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- In October 2020, Ant Group was set to raise US$34.5 billion in the world's largest IPO at the time, valuing the company at US$313 billion. On the eve of the IPO, China stopped the process from moving forward. It was reported that the Chinese Communist Party leader Xi Jinping personally scuttled the Ant IPO.
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Jun 10, 2022 · HONG KONG, June 9 (Reuters) - China's central leadership has given billionaire Jack Ma's Ant Group a tentative green light to revive its initial public offering (IPO), two sources with...
Nov 4, 2020 · China has suspended the $37bn listing of Ant Group, which had been set to become the world’s largest IPO, one day after regulators had grilled Jack Ma, who founded the company.
Oct 21, 2020 · China's Ant Group has won the final nod from the country's top securities watchdog for the registration of its Shanghai offering, the regulator said on Wednesday, clearing the last regulatory...
Jul 26, 2023 · 1. How did we get here? In November 2020, regulators swooped in at the last minute to block the IPO and later the government ordered the company to overhaul its sprawling operations.
Nov 4, 2020 · The result has been the dramatic suspension of Ant’s market debut. Beijing’s eleventh-hour decision carries obvious risks. Predictable regulation helps to underpin confidence in markets and the...
Nov 4, 2020 · Beijing said it suspended the $37bn listing of Ant Group, controlled by China’s richest man Jack Ma, to protect the country’s capital markets as investors reeled from the eleventh-hour decision.
Ant Group is expected to raise more than $34 billion from its IPO, which would make it the largest-ever market listing – overtaking Saudi Aramco. There will be approximately 3.34 billion shares on sale, which would account for 11% of Ant Group’s outstanding stock.
