Alibaba Falls After Ant Group’s IPO Is Suspended
(Bloomberg) -- Alibaba Group Holding Ltd.’s U.S.-traded shares tumbled as much as 9.5% premarket after Ant Group Co. said its listings in both Shanghai and Hong Kong have been suspended.
Ant’s listing in Shanghai was halted amid changes in the regulatory environment, according to a statement, which didn’t provide further details. Its Hong Kong IPO has also been suspended.
Alibaba owns about a third of the payments company, which was expected to begin trading on both exchanges on Nov. 5.
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