By Yingzhi Yang and Pei Li
BEIJING/HONG KONG (Reuters) - China's suspension of Ant Group's $37 billion listing just days ahead of its stock market debut has thrown the company and its investors into a tailspin and it faces a scramble to try and satisfy financial regulators, analysts say.
The company has been trying to present itself as a technology company, rather than a financial giant, but Chinese regulators have become increasingly uncomfortable with parts of its sprawling empire, namely its most lucrative credit business which contributed close to 40% of the group’s revenue in the first half of the year.
WHAT ARE THE NEW REGULATORY RULES ANT FACES?
Chinese regulators moved on Monday to recommend the tightening of ...
Read More on Datafloq
No comments:
Post a Comment