The Shanghai Stock Exchange cited significant change in regulatory environment for halting Ant IPO. But China watchers have an alternative theory for why Xi’s govt acted the way it did.
Timing of move to suspend Ant Group IPO, touted to be world's biggest stock market debut, showed that for Xi, political stability take precedence over ceding control of economy.
The move comes after China’s regulators warned that Jack Ma’s firm faces increased scrutiny and will be subject to the same restrictions on capital and leverage as banks.
Ant Group stopped taking orders from big investors a day earlier than planned due to great demand. But a smash-hit IPO doesn’t always translate into a long-term winner for investors.
Ma's Chinese fintech giant is one of the most hotly anticipated IPOs in years, on course to make history by surpassing Saudi Aramco’s record $29 billion share sale in 2019.
Jack Ma’s Ant Group listing is expected to be so popular that Hong Kong brokers are offering mom-and-pop investors 20 times leverage to buy the shares, with only 5% cash as a down payment.
People in the West still argue that the Communist Party’s role in China’s private companies is merely a formality. But in the Xi Jinping era, nothing could be further from the truth.
Discussions around payment platforms of Ant Group, Tencent have been held up in part by debate over what authority govt would use to restrict them & how quickly measures could be implemented.
Unlike his colleagues from the time of the BJS, several of whom became governors and held other constitutional posts, Malhotra chose to lead a quiet and simple retired life after the massive 2014 victory of the BJP.
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
Since 1815, Nepali Gorkhas have served in Indian & British Armies, as well as in Bihar, Bengal & Assam Police. Since Agnipath scheme came in, no Nepal-domiciled Gorkha has enlisted.
What Munir has achieved with Trump is a return to normal, ironing out the post-Abbottabad crease. The White House picture gives us insight into how Pakistan survives, occasionally thrives and thinks.
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