China puts world’s largest IPO on hold

New Delhi, Nov 3 : The Shanghai Stock Exchange (SSE) on Tuesday announced the postponement of Ant Group’s listing, the biggest IPO ever in the world at $37 billion.
The CGTN reported the fintech giant announcing later on Tuesday the suspension of its listing in Hong Kong.
Ant Group reported that after joint talks with regulators, some major changes, including changes of regulation in the fintech industry, may result in a failure of meeting IPO standards or information disclosure requirements.
The Shanghai Stock Exchange (SSE) decided to postpone the listing of Ant, which was scheduled for Thursday, SSE said in the notice.
Ant apologised to the investors in a statement, saying the company “will properly handle the follow-up matters in accordance with applicable regulations of the two stock exchanges”.
In the statement, the company reiterated the feedback after Monday’s talk with the regulators: The principles of stable innovation, embracing regulation, service to the real economy and win-win cooperation, the CGTN reported.