News Snapshot:
Jack Ma’s Ant Group has received the initial nod from the Chinese Leadership for the revival of its initial public offering (IPO). Ant is an affiliate of the e-commerce giant of China, Alibaba Group Holding. It is aiming to file a preliminary prospectus mainly for the share offering in Hong Kong and Shanghai by July. However, the fintech company would require to wait for guidance from the China Securities Regulatory Commission on the particular timing of the filing. In a statement, Ant specified however that there was no plan for relaunching the IPO. In November 2020, the fintech giant’s stock...
