Business
Ant squashed: China rocks markets by slamming the brakes on world’s biggest float – Sydney Morning Herald
China suspended Ant Group’s $US37 billion stockmarket listing, thwarting the world’s largest IPO with just days to go in a dramatic move that left investors and…
The Shanghai bourse described Ant’s meeting with financial regulators as a “major event”.
Regulators had summoned Ma, Ant’s Executive Chairman Eric Jing and Chief Executive Simon Hu to a meeting on Monday when they were told the company’s lucrative online lending business would face tighter government scrutiny, sources told Reuters.
Beijing has become more uncomfortable with banks heavily using micro-lenders or third-party technology platforms like Ant for underwriting consumer loans, amid fears…
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