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Benzinga
Benzinga
Politics
Anusuya Lahiri

FORGOTTEN HISTORY: Here s why jack ma led alibaba affiliate s ipo got postponed indefinitely | History Defined

BABA (Organization) Ant Alibaba Jack Ma Ant Group NYSE Alibaba Group Holding Ltd BlackRock Inc BLK ByteDance
  • Jack Ma's Alibaba Group Holding Ltd (NYSE:BABA) affiliated fintech Ant Group's Hong Kong listing got postponed indefinitely as the bankers remained concerned over China's continued crackdown on the domestic tech sector, the Infomation reports.
  • The weakness of publicly traded Chinese tech stocks, including Alibaba, has made it difficult for Ant and its stakeholders.
  • Related Content: Here's Why DiDi Shares Are Trading Lower Today
  • Ant's stakeholders include Silver Lake and BlackRock Inc (NYSE:BLK).
  • Ant's holding pattern has triggered concerns over other potential listings by privately held Chinese tech firms, including TikTok owner ByteDance and commerce app Xiaohongshu.
  • Chinese regulators revoked Ant Group's $37 billion IPO in late 2020 when it was worth over $300 billion.
  • Price Action: BABA shares traded higher by 2.97% at $100.43 on the last check Wednesday.
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