Why did the ant IPO get Cancelled?

China Halts Ant Group’s Blockbuster I.P.O. A dual listing in Shanghai and Hong Kong was postponed one day after Chinese regulators summoned Jack Ma and other executives of the financial technology giant.

What happened to the ant group IPO?

“Without risk, no innovation can happen in this world,” said Ma at a conference in Shanghai in late October 2020. The Monday after Ma’s comments, state regulators summoned him and other Alibaba executives to a closed door meeting in Beijing. The next day, Ant’s IPO was canceled.

How much does Alibaba own of ant financial?

Alibaba, owns a roughly 33\% stake in Ant Group, the company that runs the massively popular mobile payments app Alipay in China. In November, regulators forced Ant Group to suspend what would have been a record-setting $34.5 billion initial public offering (IPO) in Hong Kong and Shanghai.

Will Baba shareholders get ant?

Rather than fighting for Ant Group allocation, investors can buy BABA stock today and reap the gains. Every 3 shares of BABA stock gets you between 1-1.5 shares of Ant Group. And the remaining shares in BABA gets you a strong e-commerce and cloud computing franchise too.

Why did Alibaba sell off?

One of the major reasons behind this selloff is the SEC’s firm stance against non-compliant foreign companies that are listed on US bourses, such as Alibaba.

When did AT go public?

The stock market began to slide in mid-March 2000, and AT Wireless released its initial public offering on April 26.

What does ant IPO mean for Baba?

Ant Group, the Chinese payments giant, will float its initial public offering on the Hong Kong and Shanghai stock exchanges this year. That means BABA stock acts as an Ant Financial IPO proxy.

Can I invest in Ant Group?

You could also invest in Ant Group indirectly by investing in Alibaba (NYSE: BABA). The company purchased 33\% of Ant Group in 2018 so by owning some shares in Alibaba, you’ll have exposure to the Ant Group.

Why has ant group’s IPO been suspended?

London (CNN Business) Ant Group’s highly anticipated IPO has been suspended following a meeting between the company’s billionaire co-founder Jack Ma and regulators in China, an abrupt move that threatens what was due to be the largest share sale in history.

Will Jack Ma’s aggressive comments delay ant’s IPO launch?

“Jack Ma’s aggressive comments last weekend exacerbate the brewing conflict between large Chinese tech companies and powerful regulators,” Lu said in emailed comments. “Ant is likely to adjust its IPO valuation as a result of this intervention and delay its launch date.”

Why did ANT ANT go public?

Ant filed to go public in August, nearly a decade after the company was spun out of Alibaba. Ant’s Alipay app is used by more than 730 million people every month. It has become a major portal for personal credit, loans, investments and insurance in addition to a payment tool.

Why did antant cancel Shanghai and Hong Kong listings?

Ant halted its planned Shanghai and Hong Kong listings less than 48 hours before it was due to go public following a meeting by its billionaire founder Jack Ma and Chinese financial regulators.