shares of alibaba group holding ltd BABA Up over 7% in Hong Kong morning trade on news of the billionaire jack ma relinquish control of ant group.

According to a Reuters report, Ma’s stake in Ant will drop from 10% to 6.2% under the proposed plan. Its affiliates also have interests in Ant, which together give it a controlling stake in the fintech, which will change as part of the overhaul, the report said.

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Not only Alibaba, but also the stock prices of other Ant-affiliated companies rose on Monday. shares of Longshine Technology Group Co Ltd, Jilin Zhengyuan, Shanghai Golden Bridge Infotech Co, Orbbec Inc and Hundsun Technologies also rose in morning trade.

Experts take: Alexander Sirakov, managing partner at Aquariusxa Shanghai-based investment consultancy, said investors can stop guessing and finally assign a risk premium to the new company that Ant has been transformed into, according to the Reuters report.

Earlier this week, Ant reportedly received regulatory clearance to speak out $1.5 billion in cash for its consumer credit division.

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