03.Nov .2020 23:00

Ant Group’s $37 Billion Listing Suspended in Shanghai and Hong Kong

Ant Group’s $37 Billion Listing Suspended in Shanghai and Hong Kong
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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 - Reuters reported.

Ant was set to go public in Hong Kong and Shanghai on Thursday after raising about $37 billion, including the greenshoe option of the domestic leg, in a record public sale of shares.

"This is a curveball that has been thrown at us .. I don’t know what to say,” Reuters quoted a banker working on the IPO.

Shares in Ant’s affiliate Alibaba Group fell about 8.6% in premarket trading after news of the Shanghai stock exchange suspension of Ant’s A-share IPO.