Shanghai and Hong Kong exchanges suspend Ant Group's US$37 bil dual IPO

The Edge Singapore
The Edge Singapore11/3/2020 09:17 PM GMT+08  • 2 min read
Shanghai and Hong Kong exchanges suspend Ant Group's US$37 bil dual IPO
This IPO, raising US$37 billion, is the world's largest
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The Shanghai stock exchange has suspended Alibaba spin-off Ant Group’s A-share IPO on its Star board, less than 48 hours before trading was to start on Nov 5, the Chinese exchange said in the evening of Nov 3.

According to the Shanghai Stock Exchange, Ant Group was told of significant changes in the financial technology regulatory environment. As such, Ant Group might fall short of the listing requirement regarding information disclosure.

“Consequently, the concurrent proposed H Share listing on the Main Board of The Stock Exchange of Hong Kong Limited shall also be suspended,” according to Ant Group in a statement issued via the Hong Kong Exchange.

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