Anthem has not had a timetable for re-listing after the company suddenly announced a halt on the eve of its IPO. The foreign news agency reported that Ant Group has now shelved plans to buy back shares from current and former employees, one reason being uncertainty over the company’s valuation, according to company executives. Ant Group declined to comment on the issue.
Some employees who joined Ant Group shortly before its planned IPO date have reportedly opted to leave the company rather than wait for the IPO to restart, while others who were counting on the IPO to be a big success and bought cars and houses beforehand are now facing huge personal financial pressures.
Ant Group initially suspended its employee share buyback program in July last year in preparation for the IPO, the executive said, adding that the company recently held discussions on the program but has been unable to make a decision on restarting it.
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