The decision to stop what would have been the world's largest ever IPO, came days after the fintech giant's billionaire founder Jack Ma launched a public attack on the country's financial watchdogs
Ant faces more scrutiny, tougher China regulatory requirements
The move comes amid broader efforts by Chinese policymakers to prevent systemic financial risks and curb rising debt
China's yearslong deleveraging campaign to weed out bad actors in its financial underbelly should be a lesson
Experts indicate that Jack Ma's open criticism of Chinese government's approach to financial regulation may have invited the ire of the all powerful Chinese state
Ant did make disclosures about major regulatory risks in China in its prospectus and investors are expected to factor in a degree of regulatory uncertainty when making investments
The Shanghai Stock Exchange's surprise suspension of Ant Group's record-breaking initial public offering Tuesday night changed the landscape
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Dealmakers at firms including Citigroup and JPMorgan Chase & Co were set to feast on an estimated fee pool of nearly $400 million for handling the Hong Kong portion of the sale
In China, investors cited the changing business environment as a key factor weighing on Ant's future development with some saying they would still be keen to invest
In this podcast, Business Standard's Samie Modak explains reasons behind the halt and the way forward for Jack Ma