Abrupt halt to Ant IPO stuns investors in S'pore and abroad

$50b dual listing saw a lot more interest than usual from Singapore investors, say brokers

Billionaire Jack Ma's recent criticism of regulators stifling innovation could have provoked Chinese regulators, observers say. PHOTO: REUTERS
Billionaire Jack Ma's recent criticism of regulators stifling innovation could have provoked Chinese regulators, observers say. PHOTO: REUTERS
New: Gift this subscriber-only story to your friends and family

Investors in Singapore and globally were stunned by the abrupt suspension of Ant Group's listing on the Shanghai Stock Exchange (SSE) less than two days before the world's largest initial public offering (IPO) was to take place in the Chinese city and in Hong Kong.

Brokers say there had been a lot more interest than usual in the US$37 billion (S$50.4 billion) dual listing from Singapore investors, many of whom are now "in a state of shock".

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.

A version of this article appeared in the print edition of The Straits Times on November 05, 2020, with the headline Abrupt halt to Ant IPO stuns investors in S'pore and abroad. Subscribe