China suspends listing of Jack Ma’s $35bn Ant
The shock move comes after China’s regulators warned that Ma’s firm would be subject to the same restrictions on capital and leverage as banks
03 November 2020 - 17:08
China has put the brakes on Ant Group’s $35bn share sale in Shanghai and Hong Kong, derailing the world’s biggest initial public offering (IPO).
The Shanghai stock exchange will suspend the listing after Ma was called in for “supervisory interviews” by related agencies, it said in a statement on Tuesday. There was “significant change” in the regulatory environment and “such major issues could lead to your company not longer complying with requirements on listing or information disclosure,” the statement said...
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