China's fintech giant Ant Group has no plan to initiate an initial public offering (IPO), it said on Sunday in an emailed statement.

World Business Watch: Ant Group says no plan to launch IPO

Chinese billionaire Jack Ma previously possessed more than 50 per cent of voting rights at Ant. Now, after the changes, his share will fall to 6.2 per cent. Watch this video to know more.

Chinese billionaire Jack Ma to give up control of Ant Group

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World Business Watch: Ant Group says no plan to launch IPO

Chinese billionaire Jack Ma to give up control of Ant Group