AMN/ WEB DESK
Chinese fintech giant Ant Group’s dual listing at Shanghai and Hong Kong stock exchanges, has been delayed. The largest Initial Public Offering in global finance, worth around 35 billion USD, has been delayed just two days ahead from its trading debut, following a meeting of the groups’s co-founder Jack Ma by the Chinese market regulators on Monday.
The Shanghai Stock Exchange has today decided to temporarily postpone the listing of Ant Group.
A statement by Shanghai market operator, as quoted by local media, said, A meeting between Ant Group’s senior executives and China’s top financial regulators constituted ‘significant change’ in the regulatory environment, which may lead to the fintech company not fulfilling the listing requirements or disclosure rules of the exchange.
The first day trading of Ant Group’s A-shares in Shanghai and the H-shares in Hong Kong will be postponed, the two exchange operators said in their respective statements. There is no indication as to when the trading will commence.