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Jack Ma, founder of Ant Group, finds himself in a situation where the registration for Ant's $35 billion initial public offering is set to officially expire Wednesday after China snuffed out the biggest IPO in history.
Bankers have slashed Ant’s valuation from $280bn to as low as $78bn as it is slammed with myriad restrictions.
It was going to be the biggest IPO in history, but a year after it was snuffed out by China hopes are fading and bankers have stopped getting regular communication from the firm,
Tech tycoons stood up to give their support for President Xi Jinping's efforts on "common prosperity," a year after the government started an intensive crackdown on the sector.
SHANGHAI--(BUSINESS WIRE)--Sep 15, 2021--