Beijing not reviewing IPO of Ma's Ant Group

By Agence France-Presse

Jun 15, 2022 12:10 am

BEIJING: Beijing has rebuffed reports it has started discussions on the potential revival of an initial public offering (IPO) for financial giant Ant Group after the bumper listing was scuttled in a crackdown on China's technology sector.

The record-breaking share offering by Alibaba's digital payments affiliate was pulled at the last minute in 2020 and the company was later hit with a $2.75-billion fine over alleged unfair trading practices.

This undated file photo shows a bird’s-eye view of the Shanghai Stock Exchange in the city’s Pudong New Area. XINHUA PHOTO

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