Ant Group’s restructuring hits a snag as Cinda, Yuyue unexpectedly pull out of Chongqing Ant’s capital raising plan

• Cinda said its board decided “not to participate” in the plan to pay 6 billion yuan for an additional 20 per cent stake in Chongqing Ant, first announced on December 24
• Cinda’s withdrawal created a ripple effect, prompting Jiangsu Yuyue Medical Equipment & Supply to defer its 1.1 billion yuan plan to raise its stake, according to a statement