Jun 25, 2022 06:15 AM

FINANCE

Ant-Backed MYBank Cleared for Share Placement Plan

What’s new: Ant Group-backed online lender MYBank won regulatory approval to launch a share placement to bring in an undisclosed amount of new capital.

The China Banking and Insurance Regulatory Commission cleared MYBank’s share placement plan, which shareholders approved in 2021, the commission said Thursday in a statement on its website. No financial details were disclosed.

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