Ant's consumer finance unit to boost capital to 30 billion yuan, add four new strategic investors

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The consumer finance unit of China's Ant Group, will boost the company's capital to 30 billion yuan ($4.71 billion) from 8 billion yuan, with the biggest chunk of outside funding coming from a state-owned asset manager, according to an exchange filing released on Friday.

China Cinda Asset Management, one of the country’s four biggest state-owned distressed asset management companies created in late 1999, had agreed with related parties to spend 6 billion yuan ($930 million) to get an additional 20% stake . . .

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