Ant Group: Shanghai bourse halts mega IPO process


Source: technode.com technode.com

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Share this: (Image credit: Ant Group) The Shanghai Stock Exchange has halted an initial public offering for fintech giant Ant Group, said a statement published on the bourse’s website Tuesday, just one day after Chinese regulators summoned company co-founder Jack Ma and other executives for a meeting. The firm’s concurrent Hong Kong listing appears to have been suspended as well. At $34.5 billion, the IPO was set to be the largest of all time . Details: The Shanghai Stock Exchange made the decision because there were “significant changes” in the regulatory environment that Ant Group faces, according to the statement...