Alibaba Ant Group Beijing China E-Commerce Finance Fintech IPO Jack Ma Lufax Online Payment Technology
BEIJING (BLOOMBERG) – Jack Ma’s vision of the future of finance in China is being upended by regulators, along with the ambitions of conglomerates that followed his lead.Mr Ma’s Ant Group is in talks with regulators about injecting capital into its micro-lending units just weeks after its US$35 billion (S$46.9 billion) initial public offering was halted in a sector-wide crackdown. The listing plans of e-commerce billionaire Richard Liu’s JD Digits Technology Holding have also been thrown into limbo. Lufax Holding had to renegotiate terms with some shareholders after its recent IPO valued China’s largest listed online lender at less than…
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