China Stops Jack Ma’s $35 Billion Ant IPO From Going Ahead

Fast Company | Christopher Zara | Nov 3, 2020

jack 300x198 - China Stops Jack Ma's $35 Billion Ant IPO From Going Ahead Ant Group’s record-breaking dual IPO has been halted.

The extraordinary move comes after Ant executives—along with Alibaba founder Jack Ma, who controls the fintech giant—were summoned to a meeting yesterday with Chinese regulators.

See: A $7 Credit Limit: Jack Ma’s Ant Lures Hundreds of Millions of Borrowers

While the IPO had initially been given the all clear, regulators have since determined that Ant Group may no longer qualify for a listing due to “information disclosure requirements” that it failed to meet, CNBC reports.

The company was due to start trading this week on Shanghai’s tech-oriented STAR Market along with a separate listing on the Hong Kong Stock Exchange. The latter listing has also been suspended.

It’s unclear if the regulatory issues can be worked out or what exactly triggered the suspension.

 

Continue to the full article --> here

 

 


NCFA Jan 2018 resize - China Stops Jack Ma's $35 Billion Ant IPO From Going Ahead The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - China Stops Jack Ma's $35 Billion Ant IPO From Going AheadFF Logo 400 v3 - China Stops Jack Ma's $35 Billion Ant IPO From Going Aheadcommunity social impact - China Stops Jack Ma's $35 Billion Ant IPO From Going Ahead

CONGRATULATIONS TO THE 2020 FINTECH DRAFT PITCHING AND DEMO COMPANY WINNERS!



FFCON20 Pitching and Demo Winners - China Stops Jack Ma's $35 Billion Ant IPO From Going Ahead



NCFA COVID 19 letter to government to support Fintechs and SMEs - China Stops Jack Ma's $35 Billion Ant IPO From Going Ahead

NCFA Newsletter subscribe600 - China Stops Jack Ma's $35 Billion Ant IPO From Going Ahead