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

[OIO]

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.

Jack ma wants to be a Chinese Soros, this is unacceptable in China.

 

[mike2000 is back]

Jack ma wants to be a Chinese Soros, this is unacceptable in China.

You guys should just arrest him. Case closed. lol.

On a serious note, It didn't also help that Jack ma is very outspoken unlike most Chinese influential business tycoons. Even though Jack ma might have good intentions of changing China's financial and e-commerce system for the best, his criticism and remarks about the negative impact state owned banking institutions have on China's financial system and calling for their reform was the last straw that broke the camels back I guess. This eventually led to a chain of events that led to authorities halting Ants financial IPO.
The lesson here for foreign investors is that before investing your money in Chinese companies you have to be aware who is the real boss (i.e the CCP), So they can make decisions at any time of their choosing that will impact the country's tech companies and affect your investment, so investors should be aware of this before valuing Chinese companies and accessing their worth. Which I think most investors are starting to understand with this move ( a good thing for the industry I suppose) .

Chinese tech firms lose $290B in market value in 2 days after new regulations

chinas biggest technology companies like alibaba and tencent have collectively lost almost 290 billion of market value over two days of selloff bloomberg reported the shares of technology companies tumbled for a second day on wednesday after china issued new regulations the regulations are...

www.google.co.uk

Moroever Xi Jinping is unlike his predecessors who had a more hands off approach towards Chinese companies and their business , Xi Jinping policy is to make state owned companies bigger and more powerful and he has stated this clearly, so the state will only gain more control and tighten regulatory space for private companies while favouring state owned behemoths. So I think Jack ma was rather rash in making such comments , it could be wrongly interpreted as challenging the government and even the president policies, which is not a good thing to do as an influential person in China. Even though I admire Jack ma, I must confess that he will do him well if he can stick to keeping his head down and making money like the other Chinese business tycoons (like Pony Ma etc) who hardly speak their mind or criticize state policies/laws etc. It will serve him best. As they say in China: silence is golden.

 

[xuxu1457]

The leverage ratio of ants has reached 50 times, and 2 yuan capital does 100 yuan business.
Financial institutions generally require 20% to 30% of their own capital, ant's IPO is only willing to pay 2% of their own capital, it is impossible to pass.

 

[OIO]

You guys should just arrest him. Case closed. lol.

On a serious note, It didn't also help that Jack ma is very outspoken unlike most Chinese influential business tycoons. Even though Jack ma might have good intentions of changing China's financial and e-commerce system for the best, his criticism and remarks about the negative impact state owned banking institutions have on China's financial system and calling for their reform was the last straw that broke the camels back I guess. This eventually led to a chain of events that led to authorities halting Ants financial IPO.
The lesson here for foreign investors is that before investing your money in Chinese companies you have to be aware who is the real boss (i.e the CCP), So they can make decisions at any time of their choosing that will impact the country's tech companies and affect your investment, so investors should be aware of this before valuing Chinese companies and accessing their worth. Which I think most investors are starting to understand with this move ( a good thing for the industry I suppose) .

Chinese tech firms lose $290B in market value in 2 days after new regulations

chinas biggest technology companies like alibaba and tencent have collectively lost almost 290 billion of market value over two days of selloff bloomberg reported the shares of technology companies tumbled for a second day on wednesday after china issued new regulations the regulations are...

www.google.co.uk

Moroever Xi Jinping is unlike his predecessors who had a more hands off approach towards Chinese companies and their business , Xi Jinping policy is to make state owned companies bigger and more powerful and he has stated this clearly, so the state will only gain more control and tighten regulatory space for private companies while favouring state owned behemoths. So I think Jack ma was rather rash in making such comments , it could be wrongly interpreted as challenging the government and even the president policies, which is not a good thing to do as an influential person in China. Even though I admire Jack ma, I must confess that he will do him well if he can stick to keeping his head down and making money like the other Chinese business tycoons (like Pony Ma etc) who hardly speak their mind or criticize state policies/laws etc. It will serve him best. As they say in China: silence is golden.

You don't understand principles in China and what central government, Jack ma, Pony ma doing.

 

[Song Hong]

With such leverage, Ant is not unlike CDS of 2008 crisis. Jack Ma wants to bring China down.

Ant will be TBTF banks once IPO goes through.

Ant should never be allowed to be listed and should be heavily regulated.

The leverage ratio of ants has reached 50 times, and 2 yuan capital does 100 yuan business.
Financial institutions generally require 20% to 30% of their own capital, ant's IPO is only willing to pay 2% of their own capital, it is impossible to pass.

You guys should just arrest him. Case closed. lol.

On a serious note, It didn't also help that Jack ma is very outspoken unlike most Chinese influential business tycoons. Even though Jack ma might have good intentions of changing China's financial and e-commerce system for the best, his criticism and remarks about the negative impact state owned banking institutions have on China's financial system and calling for their reform was the last straw that broke the camels back I guess. This eventually led to a chain of events that led to authorities halting Ants financial IPO.
The lesson here for foreign investors is that before investing your money in Chinese companies you have to be aware who is the real boss (i.e the CCP), So they can make decisions at any time of their choosing that will impact the country's tech companies and affect your investment, so investors should be aware of this before valuing Chinese companies and accessing their worth. Which I think most investors are starting to understand with this move ( a good thing for the industry I suppose) .

Chinese tech firms lose $290B in market value in 2 days after new regulations

chinas biggest technology companies like alibaba and tencent have collectively lost almost 290 billion of market value over two days of selloff bloomberg reported the shares of technology companies tumbled for a second day on wednesday after china issued new regulations the regulations are...

www.google.co.uk

Moroever Xi Jinping is unlike his predecessors who had a more hands off approach towards Chinese companies and their business , Xi Jinping policy is to make state owned companies bigger and more powerful and he has stated this clearly, so the state will only gain more control and tighten regulatory space for private companies while favouring state owned behemoths. So I think Jack ma was rather rash in making such comments , it could be wrongly interpreted as challenging the government and even the president policies, which is not a good thing to do as an influential person in China. Even though I admire Jack ma, I must confess that he will do him well if he can stick to keeping his head down and making money like the other Chinese business tycoons (like Pony Ma etc) who hardly speak their mind or criticize state policies/laws etc. It will serve him best. As they say in China: silence is golden.

 

[bbccdd1470]

You don't understand principles in China and what central government, Jack ma, Pony ma doing.

Because this was how their Media's narrative sold to them, HK media was also selling the same narrative and lots believe in it. As a matter of fact, a simple research could help them understand better (politics is never that simple), however, a good comprehension in this matter may be only written in Chinese.