Alibaba Shares Rise After Jack Ma Cedes Control of Ant Group

Alibaba Shares Rise After Jack Ma Cedes Control of Ant Group

By Bingyan Wang Shares of Alibaba Group Holdings are higher following news that co-founder Jack Ma is ceding control of affiliate company Ant Group Co., potentially paving the way to revive plans for an initial public offering by the fintech giant. Alibaba’s Hong Kong-listed shares advanced as much as 8.3% in early trade Monday, widening…