Ant's Acquisition of Yoyo Securities Trading Reportedly Close to Approval

SighingCashier · 2026-03-16T11:31:43+00:00

Ant Group is set to complete its acquisition of Phillip Capital Financial Group and is expected to receive approval from Chinese regulators. Last year, Phillip Capital agreed to sell a 50.55% stake at 3.28 yuan per share, with a total transaction value of 2.81 billion yuan. Since the announcement, Phillip Capital's share price has doubled, with its recent market capitalization reaching 2 billion US dollars.

SighingCashier

2026-03-16 11:31:43

Abstract generation in progress

Bloomberg, citing sources familiar with the matter, reports that Ant Group is about to complete its acquisition of Yau Tai Securities Financial Group (01428).

Sources say Ant Group is close to receiving approval from relevant Chinese authorities for the deal, but the final decision has not yet been announced. Neither Ant Group, Yau Tai Securities, nor the National Development and Reform Commission responded to requests for comment.

In April last year, Yau Tai Securities Financial Chairman Ye Maolin conditionally agreed to sell his 50.55% stake to Wealthiness and Prosperity Holding Ltd., controlled by Ant Group. The agreed price was HKD 3.28 per share, with a total cash consideration of HKD 2.81 billion. At the time, Ant Group stated in the announcement that it would not increase the offer price.

Since the news broke, Yau Tai Securities Financial’s stock has more than doubled, with the company’s market value reaching $2 billion. The stock surged 34% last Friday and was briefly suspended from trading on Monday.

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