E-commerce giant Alibaba (BABA) and other Chinese stocks rallied at the open on Wednesday amid easing regulatory concerns.
Ant Group, an affiliate of Alibaba, received approval from regulators to raise $1.5 billion for its consumer finance unit. The move would make it easier for the fintech giant, of which Alibaba owns 33%, to restart any efforts towards a public offering. Plans for an Ant Group IPO were squashed by regulators in 2020.
The fintech company operates one of China’s prominent…
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