Ant’s IPO fiasco set to clip its wings and dent its value
4 years, 2 months ago

Ant’s IPO fiasco set to clip its wings and dent its value

Live Mint  

China's surprise suspension of Ant Group's record $37 billion listing is set to delay rather than destroy its chances of a stock market debut though the financial technology giant's valuation and growth prospects are likely to take a hit. Under draft rules published on Monday, online lenders in China would have to stump up more of their own capital for loans, which is expected to hurt Ant's business model. COLLISION COURSE The Shanghai stock exchange's decision on Tuesday to suspend the IPO followed a meeting between China's financial regulators and Ant executives, including Ma, who were told the company's online lending business would face tighter scrutiny, sources told Reuters. Batson said Ant would almost certainly return to the market but it might have to make substantial changes to its internal organisation and business model to meet regulatory requirements.

Business China Financial Hong Kong Chinese Shanghai Ant Ipo Regulators  stock  suspension  fiasco  ipo  dent  business  valuation  wings  set  ants  clip  capital  value  ant  china  regulators  financial

History of this topic

Uphill battle to the trading floor
4 months, 1 week ago

Uphill battle to the trading floor

China Daily  

Julia Charlton - founder and principal partner of Hong Kong-based corporate finance solicitors firm Charltons - breathed a sigh of relief when investment holding company WellCell Holdings closed at HK$2.64 in its trading debut on the Hong Kong Stock Exchange on Jan 12 - a whopping 164 percent above its offering price. "Hong Kong could beat last year's figures, but …

Chinese e-commerce giant Alibaba says it will not sell shares in Ant’s buyback program
1 year, 5 months ago

Chinese e-commerce giant Alibaba says it will not sell shares in Ant’s buyback program

Associated Press  

HONG KONG — Chinese e-commerce giant Alibaba says it does not plan to sell any shares in its one-third shareholding in financial technology company Ant Group because it wants to retain its stake in an “important strategic partner.” Alibaba Group Holdings said in a filing Sunday that it will not participate in Ant’s share buyback program. Ant, which operates one …

China imposes nearly $1 billion fine on Jack Ma's Ant Group: Report
1 year, 6 months ago

China imposes nearly $1 billion fine on Jack Ma's Ant Group: Report

Hindustan Times  

Chinese authorities imposed a fine of nearly USD 1 billion for the financial technology giant Ant Group on Friday, nearly three years after regulators blocked the company's proposal for a record-breaking public offering, which launched a period of intensified government scrutiny of technology firms, The New York Times reported. Following the crackdown on Ant in 2020, its sister company Alibaba, …

China imposes fine of $1 billion on Jack Ma's Ant group
1 year, 6 months ago

China imposes fine of $1 billion on Jack Ma's Ant group

India TV News  

Chinese authorities imposed a fine of nearly $ 1 billion on billionaire Jack Ma's Ant Group on Friday, news agency ANI reported citing media reports. Following the crackdown on Ant in 2020, its sister company Alibaba, received a record antitrust penalty of USD 2.8 billion, while Didi, a ride-hailing company, received a USD 1.2 billion fine. In a statement, Ant …

Ant Group fined $985 million by Chinese regulators in signal that tech crackdown may end
1 year, 6 months ago

Ant Group fined $985 million by Chinese regulators in signal that tech crackdown may end

Associated Press  

HONG KONG — Chinese regulators are fining Ant Group 7.123 billion yuan for violating regulations in its payments and financial services, an indicator that over two years of scrutiny and crackdown on the firm that led it to scrap its planned public listing may have come to an end. The fine comes over two years after regulators pulled the plug …

The Continuing Saga of China’s Ant Group
1 year, 10 months ago

The Continuing Saga of China’s Ant Group

The Diplomat  

Chongqing Ant Consumer Finance, a subsidiary of Alibaba’s spinoff financial arm, Ant Group, recently received regulatory approval to raise $1.5 billion to expand itself into the consumer finance business. According to Reuters, after the CBIRC approved Cinda’s funding plan, China’s State Council questioned the investment in Ant Group without having it restructured as per state demands. First, the billionaire’s controversial …

Explained: How Chinese regulators grounded Jack Ma's ambitions
2 years ago

Explained: How Chinese regulators grounded Jack Ma's ambitions

Firstpost  

A reshuffling of Jack Ma’s shareholding structure will see the Chinese business tycoon cede control of the fintech giant he formed in 2014 Jack Ma, the unconventional billionaire founder of tech giant Alibaba and the totem of China’s entrepreneurial brilliance, has stepped out of the limelight since a Communist Party crackdown that chopped back his empire. Chinese regulators torched the …

Jack Ma, Ant Group founder, to give up control of fintech giant in revamp
2 years ago

Jack Ma, Ant Group founder, to give up control of fintech giant in revamp

The Hindu  

Ant Group's founder Jack Ma will give up control of the Chinese fintech giant in an overhaul that seeks to draw a line under a regulatory crackdown that was triggered soon after its mammoth stock market debut was scuppered two years ago. The Wall Street Journal reported in July last year, citing unnamed sources, that Mr. Ma could cede control …

Chinese regulators approve capital expansion for Ant Group
2 years ago

Chinese regulators approve capital expansion for Ant Group

Associated Press  

HONG KONG — Chinese regulators have said e-commerce giant Alibaba’s finance affiliate Ant Group can raise $1.5 billion for its consumer finance unit in an important step forward after the government called off a planned IPO two years ago and ordered the firm to restructure. The China Banking and Insurance Regulatory Commission in the southwestern city of Chongqing said in …

Beijing gives initial nod to revive Ant IPO after crackdown cools
2 years, 7 months ago

Beijing gives initial nod to revive Ant IPO after crackdown cools

The Hindu  

China's central leadership has given billionaire Jack Ma's Ant Group a tentative green light to revive its initial public offering, two sources with knowledge of the matter said, in the clearest sign yet Beijing is easing its crackdown on the tech sector. Ant wants to keep the IPO revival plans low profile pending a formal announcement, after having attracted regulatory …

Today's Cache | Jack Ma’s yearlong hiatus ends in agri-tech
3 years, 2 months ago

Today's Cache | Jack Ma’s yearlong hiatus ends in agri-tech

The Hindu  

Beijing has turned a man who founded one of the world’s most valuable ecommerce company to agricultural technology Just a year ago, Alibaba’s founder Jack Ma had everything going him. Ma was gearing up for the Ant Group’s biggest share sale in history, which could potentially raise $34.4 billion and value the group at more than $310 billion. At the …

Billionaire Alibaba Founder Jack Ma Reappears In Hong Kong: Report
3 years, 3 months ago

Billionaire Alibaba Founder Jack Ma Reappears In Hong Kong: Report

News 18  

Alibaba Group founder Jack Ma, largely out of public view since a regulatory clampdown started on his business empire late last year, is currently in Hong Kong and has met business associates in recent days, two sources said. The Chinese billionaire has been keeping a low profile since delivering a speech in October last year in Shanghai criticising China’s financial …

Chinese Billionaire Jack Ma’s Net Worth Halves In Less Than A Year. Know Why
3 years, 7 months ago

Chinese Billionaire Jack Ma’s Net Worth Halves In Less Than A Year. Know Why

News 18  

Once the richest man in China, Jack Ma’s worth has tanked by half in less than a year. He is also the creator of the world’s largest fintech company Ant Group. How the downfall started Ma’s downfall originated with the cancellation of Ant Group’s $34.5 billion IPO that was scheduled in the second half of the last year. The initial …

China's Ant explores ways for Jack Ma to exit
3 years, 8 months ago

China's Ant explores ways for Jack Ma to exit

The Hindu  

Ant Group is exploring options for founder Jack Ma to divest his stake in the financial technology giant and give up control, as meetings with Chinese regulators signalled to the company that the move could help draw a line under Beijing's scrutiny of its business, according to a source familiar with regulators' thinking and two people with close ties to …

China's Ant to become financial holding firm under enforced revamp
3 years, 9 months ago

China's Ant to become financial holding firm under enforced revamp

The Hindu  

China's Ant Group, the fintech giant whose $37 billion IPO was derailed by risk-wary regulators days before it was due to list in November, will restructure as a financial holding company, the country's central bank said on Monday. The overhaul comes two days after e-commerce giant Alibaba Group Holding Ltd, of which Ant is an affiliate, was hit with a …

Chinese regulator orders Ant Group to conduct major overhaul
3 years, 9 months ago

Chinese regulator orders Ant Group to conduct major overhaul

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Chinese regulators have ordered Ant …

China's small tech firms step out of the shadows as giants reel from regulatory crackdown
3 years, 9 months ago

China's small tech firms step out of the shadows as giants reel from regulatory crackdown

The Hindu  

One firm's loss is another's gain. China's smaller technology companies and investors are eager to seize the day as a sweeping crackdown by anti-monopoly regulators on the country's internet giants creates a wealth of new opportunities. "Since December, we've seen clients whose credit lines have been reduced or restricted by lending giants transfer to our services," 360 DigiTech Chief Financial …

‘Political links’ led to China blocking Jack Ma’s record IPO
3 years, 10 months ago

‘Political links’ led to China blocking Jack Ma’s record IPO

The Hindu  

China’s President Xi Jinping pushed for blocking what would have been a record-breaking initial public offering for billionaire Jack Ma ’s Ant Group last year because of Communist Party-linked “political families” who stood to gain billions of dollars through opaque investment vehicles, according to a new report. Investment companies linked to the grandson of former President Jiang Zemin and the …

How a surefire bet on Ant Group has trapped global investors
3 years, 11 months ago

How a surefire bet on Ant Group has trapped global investors

Live Mint  

Some of the world’s biggest investors were on the cusp of a multibillion-dollar windfall from their bets on Ant Group Co. Now they are stuck with shares that won’t pay off soon. The global investors agreed to terms that were highly favorable to Ant, and which limited their ability to cash out if the company didn’t end up going public, …

Alibaba’s Jack Ma Disappears From Public View. What’s Going On?
4 years ago

Alibaba’s Jack Ma Disappears From Public View. What’s Going On?

The Quint  

Jack Ma's last post on Twitter was on 10 October. Ma has thereafter not been seen in public since a forum in Shanghai in late October where he criticised China’s regulatory system. Ma's latest criticism of the government in Shanghai saw the latter suspending an IPO of Alibaba's affiliate company, Ant Group. Since the October speech, regulators have clamped down …

Chinese regulators probe Ant Group's equity investments
4 years ago

Chinese regulators probe Ant Group's equity investments

The Hindu  

Chinese regulators are reviewing equity investments held by Ant Group Co Ltd in dozens of companies, three people with knowledge of the matter said, intensifying a crackdown on billionaire Jack Ma's financial technology empire. Divestments would also significantly scale back Ant's influence over the country's fast-growing fintech industry,where it has sought synergies with its existing businesses via several investments in …

China tells Ant Group to quickly overhaul its business
4 years ago

China tells Ant Group to quickly overhaul its business

CNN  

Hong Kong CNN Business — China has ordered the country’sbiggest online payments platform to overhaul large swaths of its operations as regulators continue their efforts torein in some of the most powerful Chinese internet companies. Financial regulators outlined a laundry list of expectations for Ant Group executives in a meeting on Saturday, according to Pan Gongsheng, deputy governor of the …

China orders Ant Group to rectify businesses
4 years ago

China orders Ant Group to rectify businesses

The Hindu  

Chinese regulators have ordered Ant Group, the world’s largest financial technology company, to rectify its businesses and comply with regulatory requirements amid increased scrutiny of anti-monopoly practices in the country’s internet sector. The meeting came after Chinese regulators last month halted Ant’s $37 billion stock debut in Shanghai and Hong Kong over regulatory changes, and comes just days after China …

China’s Ant said to mull sale of Paytm stake amid tensions with India
4 years, 1 month ago

China’s Ant said to mull sale of Paytm stake amid tensions with India

The Hindu  

Chinese fintech giant Ant Group is considering selling its 30% stake in Indian digital payment processor Paytm amid tensions between the two Asian neighbours and a toughening competitive landscape, people with direct knowledge of the matter said. A Paytm spokesman said “there has been no discussion with any of our major shareholders ever, nor any plans, about selling their stake.” …

Ant march halted: What Ma’s frozen IPO says about China business
4 years, 2 months ago

Ant march halted: What Ma’s frozen IPO says about China business

Al Jazeera  

The suspension of Ant Group’s record $35bn IPO came days after co-founder Jack Ma made a speech at odds with the Chinese Communist Party’s handling of the economy. Officially, Ant Group’s $35bn IPO is on hold until it can comply with Chinese government regulations that went into effect on November 1, including fixing capital shortfalls. Chinese regulators called the company’s …

Ant Group can’t proceed with IPO until it fixes capital shortfall
4 years, 2 months ago

Ant Group can’t proceed with IPO until it fixes capital shortfall

Al Jazeera  

The fintech giant will have to overhaul some of its business to meet all of China’s new regulations, which took effect on November 1. Chinese regulators have told Ant Group Co. it can’t proceed with an initial public offering until after it complies with new capital requirements and other restrictions imposed on the country’s financial conglomerates at the start of …

China halts Jack Ma’s world’s largest IPO by suspending his Ant Group's listing
4 years, 2 months ago

China halts Jack Ma’s world’s largest IPO by suspending his Ant Group's listing

India TV News  

Jack Ma, founder of China’s e-commerce giant Alibaba suffered a major setback on Tuesday as Shanghai and Hong Kong Stock Exchanges suspended dual listing of the shares of his world's biggest initial public offer of USD 39.7 billion of the group's subsidiary - the Ant Group, 48 hours before the highly-anticipated trading was due to start. The Shanghai Stock Exchange …

China halts Jack Ma’s $37 billion Ant Group IPO in Shangai, Hong Kong
4 years, 2 months ago

China halts Jack Ma’s $37 billion Ant Group IPO in Shangai, Hong Kong

The Hindu  

Ant Group’s $37 billion stock market listing has been suspended in both Shanghai and Hong Kong in a dramatic move just two days before what was set to be the world’s largest-ever stock market debut The Shanghai stock exchange first announced that it had suspended Ant’s initial public offering on its STAR market, prompting Ant to also freeze the Hong …

Ant Group’s $37-bn IPO suspended in Shanghai and Hong Kong
4 years, 2 months ago

Ant Group’s $37-bn IPO suspended in Shanghai and Hong Kong

Live Mint  

Ant Group's $37 billion listing has been suspended in both Shanghai and Hong Kong in a dramatic move just two days before what was set to be the world's largest-ever stock market debut. The Shanghai stock exchange first announced that it had suspended Ant's initial public offering on its STAR market, prompting Ant to also freeze the Hong Kong leg …

China regulators summon Ant Group executives ahead of IPO
4 years, 2 months ago

China regulators summon Ant Group executives ahead of IPO

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Chinese regulators summoned Ant Group …

Billionaire Jack Ma is $3bn poorer after Ant IPO put on ice
4 years, 2 months ago

Billionaire Jack Ma is $3bn poorer after Ant IPO put on ice

Al Jazeera  

Ant’s IPO would have catapulted Jack Ma to the top of Asia’s rich list, but after China suspended the blockbuster debut, his fortunes are slipping instead. Ma’s holding in Alibaba Group Holding Ltd.’s U.S.-traded shares fell about $3 billion in value at 11:54 a.m. Tuesday after Ant said its listings in both Shanghai and Hong Kong have been suspended. Ma, …

Listing interrupted: China suspends Ant Group’s $37bn IPO
4 years, 2 months ago

Listing interrupted: China suspends Ant Group’s $37bn IPO

Al Jazeera  

Shock suspension of Ant’s blockbuster IPO comes after billionaire founder Jack Ma and top executives met with Chinese financial regulators. China suspended Ant Group’s $37bn stock market listing on Tuesday, thwarting the world’s largest IPO with just days to go, in a dramatic move that left investors and bankers scrambling for answers. Ant said that its listing had been suspended …

Ahead of giant IPO, China’s Ant faces key question: What is it?
4 years, 2 months ago

Ahead of giant IPO, China’s Ant faces key question: What is it?

Al Jazeera  

Ant Group wants to be treated as a tech firm, attracting less scrutiny than a financial company. China’s Ant Group, about to make the biggest public sale of shares ever, poses a basic conundrum: what kind of company is it – a financial colossus or a tech giant? A spinoff from billionaire Jack Ma’s Alibaba Group, Ant presents itself as …

China halts Ant’s record IPO, leaving Jack Ma’s empire in limbo
4 years, 2 months ago

China halts Ant’s record IPO, leaving Jack Ma’s empire in limbo

LA Times  

Alibaba founder Jack Ma during the company’s IPO at the New York Stock Exchange in September 2015. Only days before the financial technology juggernaut was to go public in Shanghai and Hong Kong — a coup for China’s financial markets that once would have been unimaginable — the $35-billion IPO was halted Tuesday after Ma, China’s richest man, was summoned …

China's Regulators Summon Alibaba's Jack Ma Ahead of $39.7 Bn Public Offer of His Ant Group
4 years, 2 months ago

China's Regulators Summon Alibaba's Jack Ma Ahead of $39.7 Bn Public Offer of His Ant Group

News 18  

Jack Ma, founder of China's e-commerce giant Alibaba, and his senior executives were summoned on Monday by Chinese regulators for talks, just days ahead of the world's biggest initial public offer of $39.7 billion shares of the group's subsidiary – the Ant Group. Four Chinese regulatory bodies, led by the People's Bank of China, held a meeting with the top …

Ant IPO Promises $8 Billion Gain for Elite Group of Foreign Investors
4 years, 2 months ago

Ant IPO Promises $8 Billion Gain for Elite Group of Foreign Investors

Live Mint  

Ant Group Co.’s market debut will bring a windfall to a carefully curated group of international investors that bought a piece of the company two years ago. The biggest foreign buyers—investing at least $500 million each—included the sovereign-wealth funds of Singapore and Malaysia, the Canada Pension Plan Investment Board and private-equity firms Silver Lake, Warburg Pincus, Carlyle Group and General …

Jack Ma’s Ant IPO lures $3 trillion of bids in retail frenzy
4 years, 2 months ago

Jack Ma’s Ant IPO lures $3 trillion of bids in retail frenzy

Live Mint  

The biggest initial public offering of all time has unleashed an investor frenzy for the record books. Individual investors in Hong Kong and Shanghai placed orders worth at least $3 trillion for shares of Jack Ma’s Ant Group Co., enough money to buy JPMorgan Chase & Co. 10 times over. Institutions and strategic investors may take up about 96% of …

How Jack Ma spearheaded a world record shattering IPO of Ant
4 years, 2 months ago

How Jack Ma spearheaded a world record shattering IPO of Ant

India TV News  

Chinese financial technology giant Ant Group is set to raise about $34.5 billion from its initial public offering in Hong Kong and Shanghai, surpassing the previous record set by Saudi Aramcos $29.4 billion IPO in terms of cash raised last year. Headquartered in Hangzhou, Ant Group is the parent company of China's leading mobile-payment business Alipay. Jack Ma and Ant …

Ant Group IPO gets the green light from regulators for its blockbuster listing
4 years, 2 months ago

Ant Group IPO gets the green light from regulators for its blockbuster listing

CNN  

Hong Kong CNN Business — Ant Group — the crown jewel of billionaire Jack Ma’s tech empire — is one step closer to its highly anticipated market debut. China’s securities regulator said Wednesday that Ant has received the green light for its Shanghai public offering, and has now cleared all regulatory hurdled for a dual-listing that is expected to rake …

Ant plans $17.5 billion Hong Kong IPO, no cornerstone investors
4 years, 3 months ago

Ant plans $17.5 billion Hong Kong IPO, no cornerstone investors

Live Mint  

Jack Ma’s Ant Group Co. is aiming to raise $17.5 billion in its Hong Kong share sale and won’t seek to lock in cornerstone investors, confident there will be plenty of demand for one of the largest equity deals in the financial hub, according to people familiar with the matter. The fintech giant has assessed investor interest, betting it can …

Goldman Sachs joins Ant’s up to $30 billion IPO banking syndicate: Report
4 years, 4 months ago

Goldman Sachs joins Ant’s up to $30 billion IPO banking syndicate: Report

Live Mint  

Goldman Sachs has joined the growing list of investment banks working on Chinese financial technology firm Ant Group's initial public offering of up to $30 billion, as a joint lead manager on the Hong Kong leg, two people with direct knowledge of the matter said. Ant, backed by Chinese e-commerce giant Alibaba Group plans to do a simultaneous listing in …

Jack Ma’s Ant seeks $200bn valuation in dual IPO
4 years, 5 months ago

Jack Ma’s Ant seeks $200bn valuation in dual IPO

Al Jazeera  

Billionaire Jack Ma’s Ant Group is seeking a valuation north of $200 billion as it goes public in Hong Kong and Shanghai, people familiar with the matter said, kicking off a much-anticipated market debut for China’s leader in internet finance. The crown jewel of the sprawling Alibaba empire, Ant has been accelerating its evolution into an online mall for everything …

Jack Ma’s Ant Group chooses Hong Kong and Shanghai for IPO
4 years, 5 months ago

Jack Ma’s Ant Group chooses Hong Kong and Shanghai for IPO

CNN  

Hong Kong CNN Business — One of China’s biggest tech firms has chosen to stay home for its blockbuster IPO, shunning Wall Street where Chinese companies are facing heightened scrutiny because of rising geopolitical tensions. Ant Group announced on Monday that it is planning “a concurrent initial public offering” in Hong Kong and on Shanghai’s Star Market, China’s answer to …

Alibaba’s Ant plans Hong Kong IPO, targets valuation over $200 billion, sources
4 years, 6 months ago

Alibaba’s Ant plans Hong Kong IPO, targets valuation over $200 billion, sources

Live Mint  

Ant Group, the fintech arm of Chinese e-commerce giant Alibaba, plans a Hong Kong float as soon as this year and targets a valuation of more than $200 billion, said two sources with knowledge of the matter. The world's most valuable tech "unicorn" had been looking to sell shares in Hong Kong and mainland China simultaneously, but is now leaning …

Ant Financial to raise $1 bn for investment fund for India, Southeast Asia startups
5 years, 1 month ago

Ant Financial to raise $1 bn for investment fund for India, Southeast Asia startups

Live Mint  

Billionaire Jack Ma’s Ant Financial is planning to raise about $1 billion for a fund that will invest in startups from Southeast Asia to India and help strengthen its foothold in fast-growing mobile internet markets, a person familiar with the matter said. The internet finance company is looking to back more startups in those regions that focus on payments and …

Discover Related