Ant Group: the marathon is over, and we are looking for new goals

Ant Group: the marathon is over, and we are looking for new goalsIn Beijing, the lawsuit against Ant Group was completed and a fine of 7.12 billion yuan ($984 million) was imposed. The investigation lasted two years and its completion opens the possibility of a subsequent IPO for the operator of one of the largest payment systems in China.Recall: it was with the cancellation of the IPO of Ant Group, the financial division of Alibaba Group Holding, in September 2020 that the problems of the technology giant and its founder Jack Ma began. The most likely cause of the conflict is considered political  Mr. Ma has repeatedly criticized the Chinese authorities.In April 2021, the regulator had already imposed a record 18.22 billion yuan ($2.78 billion) fine on Alibaba for violating antitrust laws and ordered a massive restructuring of Ant Group.Now the regulator has fined Ant Group for problems in the field of corporate governance, consumer protection in making payments and settlement operations, and for violations of anti-money laundering obligations.Most of the Ant Group businesses identified by the regulator have already been eliminated, and now you can move on to standard monetary supervision. A similar fine was also received by the Postal Savings Bank of China, Ping An Bank, PICC Property and Casualty, and even the people's payment platform Tencent.Now Ant Group offers its shareholders a large buyback: each investor has the right to sell up to 7.6% of his stake. The preliminary value of the company before the share buyback is just over $78.5 billion, which is almost 70% lower than the first IPO attempt in 2020.Shares of Alibaba, which owns about 33% of Ant Group, have not yet exhausted their full upside on this news. Those who are not afraid to take risks can open buys with medium-term goals in the $95-97.50 zone, but for more global goals in the $100 zone, a strong positive foundation is needed.Profits to yall!#ForexChief #AntGroup #Alibaba #forexnews #stocks #worldnews #Market #IPO