China's AntFin to sell 3.6% stake in Paytm via block deal: Report

Jack Ma-founded Antfin (Netherlands) Holdings has reportedly sold a 3.6% stake in Indian fintech giant Paytm through a block deal on Friday.

According to the CNBCTV-18 report, the floor price for the deal is likely to be Rs 880 per share, a discount of about 3% to Thursday's closing price of Rs 904.40.

The development comes after Paytm CEO Vijay Shekhar Sharma entered into an agreement with Antfin to acquire a 10.30% stake through his fully-owned overseas entity – Resilient Asset Management B.V, increasing Sharma's holding to 19.42% in Paytm.

The transaction reduced Antfin's holding to 13.5%. The current block deal would mean Antfin 's stake in Paytm may drop to single digits.

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