Have no plan for IPO, focussing on business optimisation: China's Ant

China-based Ant Group has said it has no plans for an IPO and has been focussing on its "business rectification and optimisation". Earlier, Ant said Billionaire Jack Ma no longer holds a controlling stake in the firm after it adjusted the voting rights structure. Ant's $37 billion IPO, which would have been the world's largest, was cancelled in November 2020.