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.
Neither state govts nor companies earn large profits from lotteries. However, a look at the system shows there’s ample evidence of murky dealings and financial irregularities.
In an interview with Gulistan News this week, Union Home Minister Amit Shah said the government would leave law and order to J&K Police and slowly withdraw troops.
The ‘idea’ Kejriwal's politics grew around was a no-holds-barred fight against corruption. That is the reason Modi govt has now tarred him and his entire party with the same paint.
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