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Benzinga

Politics

Anusuya Lahiri

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

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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