China postpones Ant’s colossal IPO after closed-door talk with Jack Ma

China postpones Ant’s colossal IPO after closed-door talk with Jack Ma

4 years ago
Anonymous $RGO3jP_V_c

https://techcrunch.com/2020/11/03/china-postpones-ants-colossal-ipo-after-closed-door-talk-with-jack-ma/

The Shanghai Stock Exchange announced postponing Ant Group’s colossal initial public offering, a day after regulators weighed a slew of new fintech rules and summoned Jack Ma and other top executives to a closed-door meeting.

The rare talk between the financial regulators and Ant, which revealed “major changes in the fintech regulatory environment,” may disqualify the firm from listing on November 5, the bourse said in a statement on the evening of November 3.