Ant Group

OpenCalais Metadata: Ticker

688688

OpenCalais Metadata: LegalName

Ant Group Co., Ltd.

Ant Group announces share buyback after crackdown

Chinese fintech giant Ant Group has announced a share buyback plan to allow some investors to offload or reduce their stakes after the government slapped the firm with a $1 billion fine for alleged "illegal acts".

Ant operates Alipay, the world's largest digital payments platform, which boasts hundreds of millions of monthly users in China and beyond.