Regulatory turf today prevents an Ant-like IPO. But things are changing
Live MintAs much as $2.8 trillion, or money almost equal to the GDP of India, was available to buy shares of Alibaba Jack Ma’s Ant Group last week, making the $34.4 billion IPO, which has now run into trouble with the Chinese regulators, hugely oversubscribed. Two reasons prevent an Ant-like entity that will stitch together the entire financial life of a person onto a screen from payments, cash flow, savings, investments, insurance to wealth management. Two, the various regulators have their own unique ways of looking at the market and this prevents a common interface where a person can look at her entire financial life and transact on one screen. One, four financial sector regulators have come together to put in place an entity called “account aggregator” which is essentially a “switch” that allows data to flow between the users of and the providers of data, after getting consent from the owner of data.
History of this topic
China’s Ant Group plans to sell some of its stake in Paytm
Live Mint
Chinese regulators approve capital expansion for Ant Group
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Ant Group can’t proceed with IPO until it fixes capital shortfall
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China regulators summon Ant Group executives ahead of IPO
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