Explained: What’s next for Ant after its nearly $1 billion fine?

economictimes.indiatimes.com:

Ant Group has drawn a line under the fintech giant's woes and given hope to investors that a regulatory crackdown on China's broader technology sector is over. Ant's story so far has been one of a dramatic reversal in fortunes: while its shelved $37 billion IPO in 2020 had valued the company at $315 billion, a share buyback announced on Saturday valued it 75% less at $78.5 billion.

Here are some of the key things to look out for with respect to Ant:Key licenses For more than two years, Ant has been working under the guidance of Chinese regulators to turn itself into a financial holding company to ensure its financial-related businesses are fully regulated. After the fine, the next step would be to obtain the financial holding license, which is crucial for reviving any listing plans by Ant.

The National Financial Regulatory Administration, a new government body under the State Council, is now the primary regulator to grant Ant the key license, sources have told Reuters. A second license Ant is waiting to procure is one for a personal credit reporting company.

China's central bank said in November 2021 that it had accepted the application to set up Qiantang Credit Rating, a personal credit-scoring joint venture with Ant Group expected to own 35%.IPO prospects The resolution of Ant's regulatory woes has revived talk of whether the company's listing could be back on the cards. But some analysts have said that the initiation of a share buyback was an indication that the possibility of an IPO in the short-term was unlikely.