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Shanghai stock exchange suspends Ant Group's A-share IPO on its STAR Market

Ant was set to go public in Hong Kong and Shanghai on Thursday after raising about $37 billion, including the greenshoe option of the domestic leg, in a record public sale of shares

Topics
IPO | Shanghai

Reuters  |  Hong Kong 

Photo: Reuters
Photo: Reuters

The stock exchange has suspended Ant Group's A-share on its STAR Market, which was initially set for Thursday, the Chinese exchange said on Tuesday.

Ant Group has recently reported to China's securities regulator about the significant changes in the regulatory environment, the exchange said, and this major development might make Ant Group fall short of listing requirements on information disclosure, the stock exchange said in a statement.

Ant was set to go public in Hong Kong and on Thursday after raising about $37 billion, including the greenshoe option of the domestic leg, in a record public sale of shares.

The Hong Kong stock exchange declined to comment on the Shanghai stock exchange's suspension on the Hong Kong leg of the Ant Ant did not immediately respond to a request for comment.

China's top financial regulators summoned Ant Group Co Ltd's founder Jack Ma and two top executives to a meeting on Monday during which they told the that the company's lucrative online lending business faces tighter government scrutiny, sources told Reuters.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Tue, November 03 2020. 19:11 IST
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