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Chongqing Ant Consumer Finance Co., the consumer-finance arm of Ant Group, is seeking to raise $1.5 billion in new capital after a state-backed investor withdrew from a previous plan. The company plans to increase its registered capital to $2.6 billion from $1.1 billion. The original fundraising target of over $3 billion was affected by the decision of China Cinda Asset Management and Yufu Capital to back out. Ant Group is adjusting its plans accordingly.
Sunday, 13 November, 2022