HONG KONG — Jack Ma’s Ant Group is being forced by Beijing into a comprehensive overhaul after a significant tightening of regulations around China’s top online financial platform halted plans for the world’s largest initial public offering. Ant, which was set to raise up to $39.6 billion this week in Shanghai and Hong […]
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China’s piggy bank, the National Social Security Fund, set to be among Ant Group’s top IPO investors
Ant Group is making room for China’s state pension fund, the National Social Security Fund (NSSF), to buy shares during the financial technology giant’s blockbuster initial public offering (IPO) in the coming weeks, according to people familiar with the matter. The group is favouring long-term investors who backed the country’s […]