China halts Ant Group's giant IPO after dust up with billionaire Jack Ma

[Dark1]

China halts Ant Group's giant IPO after dust up with billionaire Jack Ma

Ant Group's highly anticipated IPO has been suspended following a meeting between the company's billionaire co-founder Jack Ma and regulators in China, an abrupt move that threatens what was due to be the largest share sale in history.

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China halts Ant Group's giant IPO after dust up with billionaire Jack Ma
By Hanna Ziady and Sherisse Pham, CNN Business
Updated 11:51 AM EST, Tue November 03, 2020

London(CNN Business)Ant Group's highly anticipated IPO has been suspended following a meeting between the company's billionaire co-founder Jack Ma and regulators in China, an abrupt move that threatens what was due to be the largest share sale in history.
The Shanghai Stock Exchange said in a statement on Tuesday that it had postponed the company's listing, less than two days before its shares were due to begin trading, because of "major issues" that might cause it "not to meet the listing conditions or disclosure requirements."
The IPO has also been suspended in Hong Kong, according to a statement from Ant Group, which referenced the meeting between Ma and Chinese officials as well as "recent changes" in regulations. In a statement on its official WeChat account, Ant Group apologized to investors for "any inconvenience caused by this development."

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Now this just a example why Chinese government is not trusted to keep a distance from the businesses it can control.
Why xiaomi is facing so much suspicion in the world ? And Xiaomi has a closer relationship with the Chinese government.
If the Chinese government can blatantly, without any due process of law, just arbitrarily block one of the world's most prominent companies at the last moment , what rights can non Chinese companies expect ?
The common investor must be sh..ng his pants.

 

[redtom]

If I were a billionaire, I wouldn't like CCP. But I'm not.

You can't please everyone, you can only choose the billionaires or the ordinary people. I am happy that China chooses to please the ordinary people, and I am also happy that India chooses to please the billionaires.

 

[CAPRICORN-88]

A fine example of poorly research article written by biased activists turned journalists.

The truth is Chinese Security Regulator is very strict. If they are not satisfied with the answers, they won't them proceeds.
They are stricter compares with many nations including USA to protect its investors e.g. P/E ratio for a Finance Stock is normally 10 but a Technological Stock is 30.
What is Ant Group formerly Ant Finance listing as?
Otherwise it will turn into a Casino.

 

[Dark1]

A fine example of poorly research article written by biased activists turned journalists.

The truth is Chinese Security Regulator is very strict. If they are not satisfied with the answers, they won't them proceeds.
They are stricter compares with many nations including USA to protect its investors e.g. P/E ratio for a Finance Stock is normally 10 but a Technological Stock is 30.
What is Ant Group formerly Ant Finance listing as?
Otherwise it will turn into a Casino.

Dear 'singaporean' ,
Its not about regulation but about process.
Ant group has not suddenly taken out a ipo out of the blue.
A ipo requires years of preparation including hiring funds handling agencies, banks ,etc . Permission to register is taken months in advance.
To clamp down 1 day before going public displays complete arbitrariness on the Chinese government's part.
You can blindly support the communists but you wont find many similar incidents in other democratic countries.

 

[CAPRICORN-88]

Dear 'singaporean' ,
Its not about regulation but about process.
Ant group has not suddenly taken out a ipo out of the blue.
A ipo requires years of preparation including hiring funds handling agencies, banks ,etc . Permission to register is taken months in advance.
To clamp down 1 day before going public displays complete arbitrariness on the Chinese government's part.
You can blindly support the communists but you wont find many similar incidents in other democratic countries.

My friends reminded tell me, it is better to bang your head against the wall than talking to dimwitted and illogical nationalistic Indians like you.
Nkw I know what he means.

What do you understand about compliance esp. in the finance industries? Tell you something, Singapore is equally strict and very unforgiving. Well they discover an irregularity, IPO or no IPO they will stop you.

Your world may be split between China and India. That is a frog in the well mentality.

Certainly not us. That is why we are so successful and many Indians like you like to come to Singapore to seek employment.

We look at the forest and not a tree.

That is why Singapore and China is high in the list when it cimes to Law and Order and rules as well.
Where is India? USA is 36th which is not surprising to anybody.
https://www.globaltimes.cn/content/1204960.shtml

 

[TNT]

Actually china is doing right. Regulations need to be strong and make sure these greedy corporations dont eat everything. As an indian i doubt u can comprehend but reality is if big corporations are let free, they will take over everything, including any competition. See how the US is a hostage to these big multi national corporations.

 

[Beast]

It is last min IPO halt due to Jack Ma witholding crucial information. Not regulator fault.

 

[shi12jun]

No way, the IQ of Indians can’t understand haha

 

[Globenim]

As if U.S. propaganda wasnt unobjective and biased enough for Indian trolls the Indian troll cut off half the American propaganda article and inserted his own dumb Indian troll lies, obviously deliberately without any visible sign that the article ends and hes switching from American propaganda to his own dumb remarks.

 

[Aspen]

I got fucked by this, I bought 50 shares of the IPO on HKSE and then Beijing canceled it. Sucked so bad. I don't usually shit on China but this was a bad move. People will think twice next time before buying Chinese stocks.

 

[Itachi]

Actually china is doing right. Regulations need to be strong and make sure these greedy corporations dont eat everything. As an indian i doubt u can comprehend but reality is if big corporations are let free, they will take over everything, including any competition. See how the US is a hostage to these big multi national corporations.

Hahaha.....this has nothing to do with "regulations".....we all might have one definition for "regulations" but China has another...

China just wants more control over any and everything. That's their modus operandi......this isn't the first time Jack Ma has gotten in a fight with the CCP or the last. Last time he got in a tussle, he had to "retire".

But no.....the Chinese here on PDF will spin anything to make it look like the CCP is on the right. Oh well, all it does is make China look bad.

People will think twice next time before buying Chinese stocks.

Crux of the matter....the Chinese don't realize they're shooting themselves in the foot here or are foolish enough to think they aren't.

 

[TNT]

Hahaha.....this has nothing to do with "regulations".....we all might have one definition for "regulations" but China has another...

China just wants more control over any and everything. That's their modus operandi......this isn't the first time Jack Ma has gotten in a fight with the CCP or the last. Last time he got in a tussle, he had to "retire".

But no.....the Chinese here on PDF will spin anything to make it look like the CCP is on the right. Oh well, all it does is make China look bad.



Crux of the matter....the Chinese don't realize they're shooting themselves in the foot here or are foolish enough to think they aren't.

In any case id want more control of staye rather than control of greedy corporations whose only aim is increasing profit. See how these corporations are raping the US amd west. How they have infiltrated govts and policies are made to make them more rich.

 

[Beast]

Hahaha.....this has nothing to do with "regulations".....we all might have one definition for "regulations" but China has another...

China just wants more control over any and everything. That's their modus operandi......this isn't the first time Jack Ma has gotten in a fight with the CCP or the last. Last time he got in a tussle, he had to "retire".

But no.....the Chinese here on PDF will spin anything to make it look like the CCP is on the right. Oh well, all it does is make China look bad.



Crux of the matter....the Chinese don't realize they're shooting themselves in the foot here or are foolish enough to think they aren't.

If CCP is wrong, how can China accumulate a USD 15 trillion economy in just 40 years from a third world? Chinese put their faith on them becos they put action instead of cheap talk like American and Indian.

Hundred million of Chinese life and livelihood improves becos of CCP.

 

[dbc]

In any case id want more control of staye rather than control of greedy corporations whose only aim is increasing profit. See how these corporations are raping the US amd west. How they have infiltrated govts and policies are made to make them more rich.

Meanwhile, in the real world.

Justice Department Sues Monopolist Google For Violating Antitrust Laws

Today, the Department of Justice — along with eleven state Attorneys General — filed a civil antitrust lawsuit in the U.S. District Court for the District of Columbia to stop Google from unlawfully maintaining monopolies through anticompetitive and exclusionary practices in the search and search...

www.justice.gov

Besides its been proven conclusively by several studies that over-regulation is directly linked with corruption.
Plenty of examples closer to home Pakistan, India and yes China.
Feel free to regulate the cr@ap out of Pakistani business but keep your bright ideas to yourself.

 

[TNT]

Meanwhile, in the real world.

Justice Department Sues Monopolist Google For Violating Antitrust Laws

Today, the Department of Justice — along with eleven state Attorneys General — filed a civil antitrust lawsuit in the U.S. District Court for the District of Columbia to stop Google from unlawfully maintaining monopolies through anticompetitive and exclusionary practices in the search and search...

www.justice.gov

Besides its been proven conclusively by several studies that over-regulation is directly linked with corruption.
Plenty of examples closer to home Pakistan, India and yes China.
Feel free to regulate the cr@ap out of Pakistani business but keep your bright ideas to yourself.

Ur provided link is a proof of how weak the state is against giant multi nationals. They cannot control their increasing monopoly and now using courts as last resorts.
Corruption is due to lack of proper check and balance. Havent china developed economically so fast while having strong control? In fear of corruption u want to give free hand to big corporations who openly strive for more profit. Even the pharmas sell poison for profit, opioid crisis?
As i said, i would rather have the govt be in control rather than fat greedy businessmen who can't have enough money.