Ant’s consumer finance unit to boost its capital to $2.62 billion

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Ant, which will retain its 50% stake in the unit, Chongqing Ant Consumer Finance Co Ltd, will invest 5.25 billion yuan as part of the capital injection, according to the filing made by the unit’s minority shareholder Yuyue medical.

Hangzhou Jintou Digital Technology Group, a company controlled by the local government, will invest 1.85 billion yuan and become the second biggest shareholder with a 10% stake, according to the filing.

($1 = 7.0662 Chinese yuan renminbi)