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The public offering of Ant Group, a subsidiary of China’s Alibaba, which was supposed to raise about $ 35 billion, was unexpectedly suspended. Ant Group, which would offer 11% of the company’s shares to the Shanghai and Hong Kong stock exchanges, would thus surpass Saudi Aramco. In the statement made by the company, it was said that a detailed explanation will be provided later on the suspension of the public offering.
A few days after the sudden suspension of Ant Group’s IPO, which will be the largest in the world, Chinese financial authorities have called for fintech regulation.
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Interestingly, the slowdown on public offering came after company founder Jack Ma met with officials from the Bank of China and officials from the three regulatory agencies.
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