Chinese e-commerce giant Alibaba is considering selling shares in its fintech-affiliated company, Ant Group, as part of Ant’s buyback plan. Ant Group announced an unexpected share repurchase plan on July 8, just one day after the country’s financial regulator fined the fintech giant nearly $1 billion, concluding a three-year regulatory overhaul. The buyback value of Ant Group, which is backed by Jack Ma, has dropped by almost 70% since its IPO was abruptly canceled in 2020. In a filing to HKEX, Alibaba disclosed that it has received a proposal from its sibling company to repurchase up to 7.6% of Ant Group shares, valuing them at approximately RMB 567.1 billion. [Alibaba filing, in Chinese]