Ant Consumer Unit Raises $1.49 Billion From Sunny Optical, Yuyue
(Bloomberg) — Ant Group Co.’s consumer finance unit is raising 10.5 billion yuan ($1.49 billion) in a scaled-down capital boost from investors after China Cinda Asset Management Co. unexpectedly backed out of its investment plan this year.
A subsidiary of Sunny Optical Technology Group Co. will take 1.1 billion yuan of Chongqing Ant Consumer Finance Co.’s capital, for a 6% stake, according to an exchange filing Monday. Jiangsu Yuyue Medical Equipment & Supply Co. plans to add 524 million yuan, taking a 4.99% stake. Ant Group will contribute 5.25 billion yuan to retain its 50% holding, while other backers are also investing, statements show.
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