Shanghai Stock Exchange Suspends First-day Trading in Jack Ma's Ant Group Just Before Scheduled Listing
4 years, 2 months ago

Shanghai Stock Exchange Suspends First-day Trading in Jack Ma's Ant Group Just Before Scheduled Listing

News 18  

The Shanghai Stock Exchange suspended first-day trading in Ant Group on the Shanghai stock exchange just before its scheduled listing Thursday. The exchange cited changes in the financial technology regulatory environment after regulators held a meeting Monday with senior Ant Group executives, including founder Jack Ma. This material event may cause your company to fail to meet the issuance and listing conditions or information disclosure requirements, the stock market operator said in a statement issued to Ant Group. In a statement issued on Monday, the People's Bank of China, the China Banking and Insurance Regulatory Commission, the Securities Regulatory Commission and the State Administration of Foreign Exchange, said they had conducted regulatory interviews with Ma, Ant Group Chairman Eric Jing, and its president, Hu Xiaoming.

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History of this topic

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 …

Chinese Firms Ant Group, Tencent Hit with Hefty Fines for 'Illegal Acts' as Crackdown Draws Close
1 year, 6 months ago

Chinese Firms Ant Group, Tencent Hit with Hefty Fines for 'Illegal Acts' as Crackdown Draws Close

News 18  

Chinese regulators said Friday they had fined fintech giant Ant Group almost $1 billion for “illegal acts” and handed an affiliate of rival Tencent a $415 million penalty, adding that a long-running crackdown on tech firms was drawing to a close. “In view of the illegal and irregular acts by Ant Group and its affiliates in previous years… have been …

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 …

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 …

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 …

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 …

Jack Ma’s Ant Group was the next big thing. Now it may become just a boring bank
3 years, 10 months ago

Jack Ma’s Ant Group was the next big thing. Now it may become just a boring bank

CNN  

Hong Kong CNN Business — Jack Ma’s Ant Group quickly became one of China’s most powerful companies, and its plans for bridging the worlds of tech and finance were growing ever more ambitious by the day. The People’s Bank of China last September outlined new measures for financial holding companies that required them to hold “adequate capital” matching the amount …

Alibaba under investigation amid speculation over Jack Ma's 'disappearance'
4 years ago

Alibaba under investigation amid speculation over Jack Ma's 'disappearance'

ABC  

Chinese regulators have launched an investigation into China's biggest e-commerce giant Alibaba, cofounded by Jack Ma, one of the country's richest men. The State Market Supervision Administration issued a one-line statement on Christmas Eve that it had filed an antitrust investigation into Alibaba Group Holdings Ltd over their "suspected monopolistic practices". But it specified one of Alibaba's so-called "choosing one …

Where is Jack Ma?: Alibaba founder not seen since October as China gets tough with his business
4 years ago

Where is Jack Ma?: Alibaba founder not seen since October as China gets tough with his business

Firstpost  

Beijing: China’s best-known entrepreneur, e-commerce billionaire Jack Ma, made his fortune by taking big risks. “It’s too late to say goodbye.” Spokespeople for Alibaba and Ant didn’t respond to questions about why Ma hasn’t appeared in public. As for Ant, regulators worried it might add to financial risks seen by the ruling party as one of the biggest threats to …

Jack Ma ‘missing’ amid China’s clampdown on his businesses
4 years ago

Jack Ma ‘missing’ amid China’s clampdown on his businesses

The Hindu  

Alibaba founder Jack Ma’s absence from public view in the past two months, including missing the final episode of a TV show on which he was to appear as a judge, has fuelled social media speculation over his whereabouts amid a Chinese regulatory clampdown on his sprawling business empire. China’s highest-profile entrepreneur has not appeared in a public setting since …

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  

A view of the signage of Ant Group in the headquarters compound of the fintech giant in Hangzhou in eastern China's Zhejiang Province. File 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 …

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 …

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 …

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 …

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 …

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, …

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 …

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 …

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