Jack Ma’s Ant pushes on with reduced fundraising effort
Restructure is latest attempt to revamp business since blockbuster IPO was called off amid Beijing crackdown。
Jack Ma’s Ant Group is moving forward with plans to raise capital for its lending arm after a major state-owned asset manager pulled out of an earlier fundraising deal for the unit.
马云(Jack Ma)旗下的蚂蚁集团(Ant Group)继续推进为其信贷子公司筹集资金的计划，此前一家大型国有资产管理公司退出了一项更早的增资方案。
The fundraise is part of a government-led restructuring effort for Ma’s fintech company, which has been working to revamp its business since Chinese regulators called off its blockbuster $37bn initial public offering more than two years ago.
The deal will bring in Rmb10.5bn ($1.5bn) for Ant’s consumer finance unit, about half of the Rmb22bn that the group had originally hoped to raise last year, according to a filing from one of the investors, Yuwell Group.