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China slams the brakes on Ant Group's $37 billion listing

China slams the brakes on Ant Group's $37 billion listing

By , , HONG KONG/NEW YORK (Reuters) - China suspended Ant Group’s $37 billion listing on Tuesday, thwarting the world’s largest stock market debut with just days to go in a dramatic blow to the financial technology firm founded by billionaire Jack Ma.The Shanghai stock exchange said it had suspended the company’s initial public offering (IPO) on its tech-focused STAR Market, prompting Ant to also freeze the Hong Kong leg of its dual listing scheduled for Thursday.This followed a meeting with China’s financial regulators on Monday during which Ma and his top executives were told that Ant’s...

November 3, 2020
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reuters.com

reuters.com

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