Here's Why Jack Ma Led Alibaba Affiliate's IPO Got Postponed Indefinitely

  • Jack Ma's Alibaba Group Holding Ltd 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 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.
BABA Logo
BABAAlibaba Group Holding Ltd
$119.01-1.06%

Stock Score Locked: Want to See it?

Benzinga Rankings give you vital metrics on any stock – anytime.

Reveal Full Score
Edge Rankings
Momentum
93.35
Growth
73.17
Quality
58.55
Value
80.50
Price Trend
Short
Medium
Long
Market News and Data brought to you by Benzinga APIs

Posted In:
Comments
Loading...