Ant suspends Shanghai, Hong Kong IPOs


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Home Highlights Business Economics Cities Life&Culture Ant suspends Shanghai, Hong Kong IPOs Changes to the fintech regulatory environment may have resulted in Ant Group failing to meet listing and information disclosure requirements, according to Shanghai Stock Exchange. Photo from CFP. By MIAO Yiwei On November 3, Shanghai Stock Exchange temporarily suspended Ant Group’s impending $35 billion STAR market IPO, scheduled for Nov.5. The announcement came after regulators summoned Ant Group executives, including Jack Ma, founder of Alibaba, which controls 33 percent of Ant Group shares. “Major changes in the financial technology regulatory environment” were cited as the reason for the...