Ant Problems: World’s Largest IPO Slapped At Last Minute

Ant Problems: World’s Largest IPO Slapped At Last Minute

It's difficult to imagine anyone had much room on their mental "balance sheet" (if you will) to accommodate big news that didn't involve the US election this week, but when the largest IPO in history is forcibly delayed, you're compelled to take note. On Monday, Chinese officials summoned Jack Ma for what they called "supervisory interviews" ahead of Ant's dual listing in Shanghai and Hong Kong, which had been set for Thursday. I don't generally favor embedding my own social media messages in
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6 thoughts on “Ant Problems: World’s Largest IPO Slapped At Last Minute

  1. It is all about having a Rule of Law and transparency of such. US may not be perfect in that area- but looks very good in comparison to what has gone on in China this past year.
    Makes the US stock market look like a far better alternative.

    1. If their professed goal is to curb the reckless extension of credit to young people, I’m not sure that they are wrong. It’s another example of targeted policy responses versus the US “raise interest rates to deflate a bubble in housing or whatever” at a cost of huge collateral damage to the rest of the economy. For the life of me, I cannot understand why simple targeted responses, like increasing required down payments on non-primary residential purchases, is off limits in the USA. Nope. We have to crank up interest rates to respond. Stupid.

      But the Ant kerfuffle may be more an issue of face. What’s that old Chinese proverb about killing a chicken to scare the monkeys?

  2. I’m thinking the Ant IPO goes forward eventually, with Ma put in his place, the state banks assured better economics, and more IPO shares to Chinese retail investors.

  3. China didn’t cross their financial Rubicon until they liberalized their economy. Billions have achieved middle class. It’s an economic tragedy when any sovereign retreats to Socialism.

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