Here’s Everything You Need to Know About Ant’s Pulled IPO

(Bloomberg) -- China’s shocking decision to halt Ant Group Co.’s initial public offering is reverberating across financial markets, sending Hong Kong shares lower and raising questions about the future of Jack Ma’s fintech juggernaut.

Here are the latest developments on the 11th-hour scrapping of what was poised to be the world’s biggest IPO, worth $34.5 billion:

• China Is Planning a Bigger Ant Crackdown With Bank Funding Curbs. Authorities are setting their sights on Ant’s biggest source of revenue: its credit platforms that funnel loans from banks to millions of consumers across China.
• A $3 Trillion Investor Craze Comes Undone After Ant’s Busted IPO. Retail investors lick their wounds after the shocking halt.
• Ant Suspension Leaves Gaping Hole in Hong Kong’s IPOs: ECM Watch. The massive deal would have pushed China’s IPO tally to a record high.
• China Halts Ant Group’s IPO, Throwing Ma Empire Into Turmoil. China is demanding capital increases for the fintech giant.
• Hong Kong Exchange Shares Fall After Ant IPO Is Pulled. It’s a blow to the Hong Kong bourse, which was expecting the IPO to boost share sales to a decade high.
• China Tells Ant It Can’t Go Public Until Capital Shortfall Fixed. The company will have to boost capital and reapply for national licenses before the sale can go ahead.
• Jack Ma’s Wealth Drops $3 Billion After Ant Group IPO Freeze. The plunge in Alibaba Group Holding Ltd., which owns a third of Ant, has reduced Ma’s fortune.
• Bankers Reel as Ant IPO Collapse Threatens $400 Million Payday. Banks such as Citigroup Inc. and Morgan Stanley were poised for a massive windfall.
• Ant’s IPO Suspension Shows It’s Too Big to Fail Now: China Today. For China, safeguarding the financial system takes precedence over Ma’s IPO plans.
• What Does Ant Group IPO Freeze Mean for Investors? (Video)

• From Bloomberg Opinion: Jack Ma’s Blunt Words Just Cost Him $35 Billion: Shuli Ren
• Bloomberg Intelligence says:
  • Alibaba’s Ant Stake May Be Worth Much Less on IPO Pause: React
  • Ant IPO Suspension Not an Alibaba Bondholder Woe: Credit React
  • Ant IPO Suspension May Risk HKEX’s Fintech Deal Pipeline: React
  • Ant IPO Suspension Reflects Regulatory Risks to Earnings: React
• Chart: Ant was set for a record IPO, topping Saudi Aramco’s deal in 2019 and Alibaba’s own listing in 2014:

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