Business
Chinese President Xi personally halted $37bn Ant IPO: Report – Al Jazeera English
Ant’s IPO was halted after its co-founder made a speech at odds with the Chinese government’s handling of the economy.
Chinas President Xi Jinping personally decided to pull the plug on Ant Groups $37bn initial public offering, the Wall Street Journal reported on Thursday, citing Chinese officials with the knowledge of the matter.
The decision to stop what would have been the worlds largest-ever IPO came days after the financial-tech giants billionaire founder Jack Ma launched a public attack on the countrys financial watchdogs and banks.
President Xi ordered Chinese regulators to investigate and effectively shut…
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