HONG KONG: State-backed firms are set to take their first sizeable stake in a key Ant Group asset as part of the Chinese fintech giant's regulatory-driven revamp that was ordered after its botched November stock market debut, three people told Reuters.
The partners plan to establish a personal credit-scoring firm to handle Ant's treasure trove of data on over 1 billion consumers, said the people, adding that its ownership structure could help revive Ant's blockbuster initial public offering (IPO) which regulators put a stop to with just two days to go.
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