Shares of Ant-controlled companies, Alibaba rise after Jack Ma gives up control

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SHANGHAI (Reuters) - Shares of listed Chinese companies that count Ant Group as a major shareholder rose on Monday, after announcing that Ant founder Jack Ma is no longer their controller following an overhaul at the fintech giant.

Hong Kong-listed shares of Ma's Alibaba (NYSE:BABA) jumped more than 5%.

Shares of Longshine Technology Group Co Ltd, Jilin Zhengyuan, Shanghai Golden Bridge Infotech Co, Orbbec Inc and Hundsun Technologies, in which Ant owns a more than 5% stake, also rose.

Ant said over the weekend that founder Jack Ma will give up control of the company.

The overhaul seeks to draw a line under a regulatory crackdown that was triggered soon after its mammoth stock market debut was scuppered two years ago.