Ant's IPO from hero to zero a cautionary tale, say observers

Ant said retail investors will get their money back together with the other brokerages and levies, at no interest. PHOTO: REUTERS
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HONG KONG - The abrupt thwarting of billionaire Jack Ma's Ant Group's US$34 billion (S$46.3 billion) dual listing is a stark reminder of the uncertainty and pitfalls of placing bets on Chinese firms, observers say.

Ms Stefanie Yuen Thio, joint managing partner at TSMP Law Corporation, was surprised by the timing of the suspension as laws are not made overnight.

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