Ant Group IPO: Chinese President Xi Slams the Brakes

Chinese financial services company Ant Group, was set to hold the largest IPO in history, a record $37 billion listing. Plans have now changed after Co-founder Jack Ma, during a speech at the Bund Summit in Shanghai, was critical of Chinese-run banking industry’s “pawn shop mentality”. Regulators have now pulled Ant Group’s IPO and are seeking to tighten financial regulations. Alex discusses the canceled IPO and what difficulties this may present for Ant Group moving forward.

This is an excerpt from episode 125 of Winner Take All. Watch the full episode here:

Originally Aired: 11/12/20
#Fintech #AntIPO #JackMa

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