In the wake of the upcoming IPO for the fintech giant, Paytm, 11 Chinese nationals who were on the board, have been replaced by US and Indian nationals. Despite this, there are no changes in the existing shareholdings in the company according to a report by Reuters. The company has no Chinese nationals sitting on its board as of now. Members from Alipay, Ant Financials and Alibaba have been replaced. Many big names such as Jing Xiandong from Alipay, Guoming Cheng from Ant Financials and Michael Yuen Jen Yao (who is a US citizen) and Ting Hong Kenny Ho have left their positions on the board.
#PayTM #China #SoftBank #AntFinancials #India
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