Ant Group says it will help employees monetize shares and commits to listing after canceled IPO

A emblem of Ant Neighborhood is pictured at the headquarters of the company, an affiliate of Alibaba, in Hangzhou, Zhejiang province, China October 29, 2020.

Aly Song | Reuters

GUANGZHOU, China — Ant Neighborhood will gain a “liquidity resolution” for workforce to monetize shares after its huge preliminary public offering (IPO) changed into once pulled by regulators, per a top executive at the company.

Eric Jing, executive chairman of the Chinese language financial expertise company created by Alibaba founder Jack Ma, also committed to getting the company listed.

An employee posted on Ant Neighborhood’s inner message board asking about the methodology forward for the company and suggestions on how to defend skill. In response, Jing acknowledged the expertise huge is asking into a “non permanent liquidity resolution” for workforce to want make in April, without elaborating what that will mean, a person that saw the memo told CNBC.

Ant Neighborhood declined to observation when contacted by CNBC.

The Wall Street Journal first reported the contents of the message.

Many Ant Neighborhood workers will want shares in the company as a manufacture of compensation. In overall workers can money out or monetize those shares if the company is obtained, goes public, or management decides to rob benefit stock.

Ant Neighborhood, the proprietor of in fashion Chinese language mobile funds app Alipay, changed into once planning a $34.5 billion IPO in Shanghai and Hong Kong in November, which would were the supreme of all time. But regulators pressured the company to end the listing two days earlier than it changed into once role to initiate up trading. Ant cited “essential factors akin to the adjustments in financial expertise regulatory atmosphere” for the cancellation.

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