Regulators Squash Giant Ant Group IPO
The initial public stock offering of the Chinese financial company Ant Group, which would have been the world's largest stock offering of all time, has been put on hold.
What was supposed to be the world's largest initial public stock offering has been halted at the last minute. The Chinese financial company, Ant Group, was set to go public on Thursday. The IPO was expected raise an estimated $37 billion and boost Ant's market value to in excess of $300 billion.
But regulators for "major issues" with the group that "may fail to meet information disclosure requirements." Hong Kong's bourse, where Ant was planning a dual listing, soon followed in halting the IPO.
