China's central bank says Ant IPO halted to safeguard investors, consumers

The decision to suspend Ant Group’s planned initial public offering in China was based on a comprehensive consideration about safeguarding the interests of financial consumers and investors, a senior central bank official said on Friday.

China halted the $37 billion listing on Tuesday, thwarting the world’s largest stock market debut with just days to go in a dramatic blow to the financial technology and online consumer lending firm founded by billionaire Jack Ma. The move comes amid broader efforts by Chinese policymakers.....

This article is no longer available in our repository.

There could be multiple reasons for this.