Ant Group says no plan to initiate IPO

HONG KONG – Ant Group has no plan to initiate an initial public offering, it said on Thursday on its Wechat account.

“Under the guidance of regulators, we are focused on steadily moving forward with our rectification work and do not have any plan to initiate an IPO,” Jack Ma’s Ant Group said in a brief statement.

(Reporting by Twinnie Siu; Editing by Edmund Blair)