China’s Ant Group increases registered capital by 47% to $5.4 billion

Beijing: China’s Ant Group has raised its registered capital to 35 billion yuan ($5.44 billion) from 23.8 billion yuan, public business registration records showed, as the fintech giant continues its government-mandated restructuring.

Ant, an affiliate of e-commerce leader Alibaba Group Holding Ltd, in a Monday statement said the increase was to support growth and was “according to relevant regulations and business needs.”