Alibaba: Shanghai Stock Exchange suspends Ant Group IPO

(ANSA) - BEIJING, 03 NOV - The Shanghai Stock Exchange has suspended the largest IPO in history, that of Ant Group, the fintech company of the e-commerce giant Alibaba, which was supposed to materialize on Thursday by collecting, with the placement in the Hong Kong, 34.5 billion dollars. This was stated in a note from the Shanghai Stock Exchange, citing "regulatory changes in financial technology". The colossofintech, which ended up in the lens of Chinese authorities on the potential risks of online lending activities, yesterday saw its co-founder Jack Ma and other executives summoned to Beijing by regulators and supervisors. AntGroup will have to readjust its listed activities and related valuation after the suspension of the IPO of records just two days after its implementation. The Shanghai Stock Exchange has decided to stop the listing for the raising of 34.5 billion dollars, originally scheduled for Thursday on Hong Kong and Shanghai, citing concern that Ant Group "would not be able to meet the conditions of issue and listing or the requirements of disclosure of information, "the company said in a statement. The meeting yesterday with the regulatory authorities and the change in the general regulatory context led to a slowdown in the listing. Recent developments, in other words, are material events that have not been adequately disclosed to investors. (HANDLE).