Business
China halts world’s biggest IPO, questions Jack Ma – The Australian Financial Review
China shocked global financial markets by halting the world’s biggest IPO and calling in Alibaba founder Jack Ma for questioning by financial regulators.
Investors in Australia had been closely watching the IPO of Ant Group, which is seen as a potential alternative to payment providers such as Afterpay.
They said capital flows into Hong Kong had been huge in anticipation of the float. The Shanghai allocation was oversubscribed by 872 times, while the Hong Kong allocation had bids for 389 times the shares on offer.
China does not have a systemic financial risk problem. Chinese finance basically does not carry risk; rather, the risk comes from lacking…
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