Ant suspends sales of debt amid stringent new regulations for fintech in China

Companies / Telecoms & Technology Ant suspends sales of debt amid stringent new regulations for fintech in China The regulations also derailed its record IPO with the firm having to outline a plan to submit to being supervised more like a bank 26 May 2021 – 11:30 Agency Staff Jack Ma. Picture: BLOOMBERG Ant Group has suspended the issuance of securities backed by online loans as Jack Ma's fintech giant overhauls its business to meet stringent new rules for the sector, people familiar with the matter have said. Ant has no immediate plans to issue asset-backed securities (ABS) this year,…