Ant’s IPO: what went wrong?
Interesting story detailing why the Ant IPO was cancelled; allegedly because Jack Ma was running what amounted to a financial services company, complete with securitisation to move liabilities off it’s balance sheet. About a four minute read.
Comment: this is consistent with what I found out after speaking to contacts in China. Its still not totally clear why China’s regulators waited until just a few days before the IPO was set to launch; as I’d suggested at the time, this delay seriously impacted the nation’s credibility as many institutional investors scrambled to raise capital. They will be wary next time.