Chinese state pulls brake on Jack Ma's plan to create world's biggest Fintech firm – The Economic Times

New Delhi: The Chinese state has pulled the brake on the ANT group, which could have been the biggest Fintech Company in the world. The ANT group is a Fintech organization, controlled by Chinaࢀ™s richest person, Jack Ma , who is also the co-founder of Alibaba Group . He wanted to make the ANT group public, and raise as much as 37 billion dollars simultaneously. This would have been the biggest IPO, or first sale of stock in the world – greater than the listing of Saudiࢀ™s Aramco. At the eleventh hour, however, the initiative received a huge blow from…