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SINGAPORE: The Shanghai and Hong Kong stock exchanges on Tuesday suspended Ant Group’s IPO, which was initially scheduled for Thursday, in a surprising setback for what was on track to be the world’s largest share sale.
The following are instantaneous reactions from analysts:
WANG JIYUE, FORMER SENIOR INVESTMENT BANKER AND COLUMNIST OF THE PENINSULA CAPITAL MARKET:
“Suspension does not necessarily mean cancellation, so the final list is only a matter of time, but with the newly implemented online microcredit rules, Ant has a responsibility to explain the impact on his business. Ahead of Ant rules It shouldn’t get special treatment and that’s how the registry-based IPO system works. “
VARUN MITTAL, SINGAPORE HEADQUARTERS OF EMERGING MARKETS, FINTECH BUSINESS AT EY:
“As regulated financial services players such as banks and insurers converge on offering to technology companies, regulators are faced with three options: regulate technology companies like incumbents, modify existing laws to manage new models and vendors and, finally, create a new set of laws to manage oversight of technology companies.
Each country is adopting a diverse combination of the above three options to achieve the ultimate goals of financial services ecosystem stability, consumer protection, and preservation of market competition. “
PHILIPPE ESPINASSE, CAPITAL MARKETS CONSULTANT AND FORMER INVESTMENT BANKER:
“Either this is something that requires short-term clarification via an ad and / or supplemental prospectus, and investors could be asked to reconfirm their orders, usually not many do, when something like this happens. Or the Deal will simply be closed and delayed for a period of time, pending resolution of the issues.
“This is a significant blow or development for both the company and other potential fintech issuers in Hong Kong and mainland China.” – Reuters
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