SPX3,825.33+39.95 1.06%
DIA310.85+3.03 0.98%
IXIC11,127.85+99.11 0.90%

China to consider reviving Ant Group's IPO - Bloomberg News

China to consider reviving Ant Group's IPO - Bloomberg News

reuters.com · 06/09/2022 05:26
China to consider reviving Ant Group's IPO - Bloomberg News

- Chinese financial regulators have started early-stage discussions on a potential revival of an initial public offering (IPO) of Ant Group Co, controlled by billionaire Jack Ma, Bloomberg News reported on Thursday, citing people familiar with the matter.

The China Securities Regulatory Commission has established a team to reassess the fintech giant's share sale plans, Bloomberg reported.

Ant Group had filed for a dual listing in Hong Kong and on Shanghai's Nasdaq-style STAR Market in 2020, before China abruptly suspended the company's $37 billion listing.

The suspension followed a meeting between China's financial regulators and Ant executives, including Alibaba co-founder Jack Ma, who were told the company's lucrative online lending business would face tighter scrutiny. (https://reut.rs/3xkSt4n)


(Reporting by Abinaya Vijayaraghavan in Bengaluru; Editing by Shailesh Kuber)

((Abinaya.V@thomsonreuters.com;))