The Alibaba Group affiliate is looking at excluding its blockchain, database management services and international businesses from a main entity that will be used to apply for a financial holding license in China, a report said.

Jack Ma-backed Ant Group is planning a restructuring that will break off some non-core operations of its China financial-related business, a report said. (File image)

Jack Ma-backed Ant Group is planning a restructuring that will break off some non-core operations of its China financial-related business, Bloomberg News reported on Tuesday, citing people familiar with the matter.

The Alibaba Group affiliate is looking at excluding its blockchain, database management services and international businesses from a main entity that will be used to apply for a financial holding license in China, the report said.

Once the restructuring is complete and Ant secures the license, it can prepare for a public listing in Hong Kong instead of reviving the dual Shanghai-Hong Kong listing plan that was suspended by Chinese authorities in 2020, Bloomberg said.

You have exhausted your
monthly limit of free stories.

To continue reading,
simply register or sign in

🌟 Unlock More with an Express Digital Subscription! 🌟 Dive deeper into the stories that matter. Now available at an exclusive, limited-time price.

This premium article is free for now.

Register to read more free stories and access offers from partners.

🌟 Unlock More with an Express Digital Subscription! 🌟 Dive deeper into the stories that matter. Now available at an exclusive, limited-time price.

This content is exclusive for our subscribers.

Subscribe now to get unlimited access to The Indian Express exclusive and premium stories.