Alibaba (09988)’s Alipay parent company, Ant Group, uploaded prospectus documents on the SSE and SEHK at the end of August last year, and was scheduled to “list in the century” in early November, but the “century tart Q” at the door because of changes in the regulatory environment, which is admittedly quite a mess. It’s a mess.
It is rumored that the central government is investigating why Ant’s listing was passed in such a short period of time, including the relationship between founder Jack Ma and related personnel, the listing guidelines of the China Securities Regulatory Commission and Shanghai regulators, and why a series of state-owned capital decided to subscribe to Ant. What’s more, Ma was reportedly not allowed to leave China until Ant had completed its overhaul.
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