InvestorQ : Why have all Chinese citizens resigned from the board of Paytm ahead of the IPO?
Tisha Malhotra made post

Why have all Chinese citizens resigned from the board of Paytm ahead of the IPO?

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Aashna Tripathi answered.
5 months ago
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In an interesting move, all Chinese nationals on the board of Paytm were replaced by US and Indian citizens. This may have bene a deliberate move by the Chinese to placate the Americans and give them more space. However, their shareholding remains the same. IN fact, representatives of some early investors in Paytm like Alipay, Alibaba and Jackie Ma’s Ant Financial have resigned from the board of Paytm.

While the actual reasons were not disclosed, this may have been a regulatory requirement if Paytm had to continue with the US investors like Berkshire Hathaway. This has been disclosed in the regulatory document. Ant Group has now nominated Douglas Feagin, a US citizen, on the Paytm board. Paytm has marque shareholders like Ant Group, Softbank, SAIF Partners, T Rowe Price and Berkshire Hathaway.
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