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Ant Group: Chinese regulators force Jack Ma to restructure company

China has forced the Ant Group to restructure so the financial technology firm acts more like a bank. The company’s $37 billion share market launch was derailed by regulators in November over concerns about its finance model. The latest move is part of a wider crackdown by China to reign in the country’s fast-growing tech […]

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Business

Stock listing of Jack Ma’s Ant Group on Shanghai and Hong Kong abruptly halted

The stock market debut by Chinese tech giant Ant Group has been abruptly halted. Ant, backed by Jack Ma, billionaire founder of e-commerce platform Alibaba, was set to sell shares worth about US$ 34.4 billion on Thursday. The listings in Shanghai and Hong Kong would have been the biggest stock market debut to date. But […]