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    Ma regains rich list top spot

    China Daily | Updated: 2015-02-03 07:57

    Alibaba Group Holding Ltd Chairman Jack Ma regained his spot as Asia's richest person on the back of a higher valuation for the company's finance affiliate ahead of a stock sale that will also create a dozen new billionaires.

    Zhejiang Ant Small & Micro Financial Services Group Co, which owns payments processor Alipay, is valued at about $50 billion, according to sources close to the operation.

    Ant Financial is weighing a private placement before going public in 2016, and details are yet to be finalized.

    Ma regains rich list top spot

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