Chinese nationals step down from Paytm board ahead of planned IPO; no change in shareholding
The Hindu
The development comes at a time when Paytm is gearing up for public listing.
All Chinese nationals on the board of digital payments firm Paytm have been replaced by U.S. and Indian citizens, while there is no change in existing shareholding, according to a regulatory filing of the company. Alipay representative Jing Xiandong, Ant Financial’s Guoming Cheng, and Alibaba representatives Michael Yuen Jen Yao (U.S. citizen) and Ting Hong Kenny Ho have ceased to be directors of the company, as per the regulatory document. According to a source, Paytm now has no Chinese national on its board.More Related News
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