Beijing not reviewing IPO of Ma's Ant Group | The Manila Times

BEIJING: Beijing has rebuffed reports it has started discussions on the potential revival of an initial public offering (IPO) for financial giant Ant Group after the bumper listing was scuttled in a crackdown on China’s technology sector. The record-breaking share offering by Alibaba’s digital payments affiliate was pulled at the last minute in 2020 and the company was later hit with a $2.75-billion fine over alleged unfair trading practices. But following signs in recent weeks that the crackdown may be easing, Bloomberg reported last Thursday that financial regulators had started talks on relaunching the initial public offering. Citing a source…