BEIJING (dpa-AFX) – The postponed IPO of the Chinese financial company Ant Group will probably not come until 2022. The chances of an IPO in the coming year would be getting smaller, reported the Bloomberg news agency on Monday, citing people familiar with the matter. The reason are new guidelines for lending to consumers, which still have to be readjusted. Ant Group, in which the retail giant Alibaba has a one-third stake, is still in an “early stage of the review,” it said. A delay of at least six months had previously been discussed. As a result, Alibaba’s rate fell by 3.5 percent in Hong Kong on Monday.
At the beginning of November, Ant Group’s IPO was canceled at short notice. The reason was new plans for restrictions on online lending, which are likely to severely affect the Ant Group’s business. According to this, such companies will in future have to finance 30 percent of the loans granted jointly with banks. However, experts also see this as a possible step against a company that, in the eyes of the government, may have become too big for the state.
The insiders now told Bloomberg that China attaches great importance to the fintech company’s compliance with regulatory requirements. According to the media report, the state has set up a task force to monitor Ant Group.
Postponing the IPO in Shanghai and Beijing would be an additional setback for Alibaba founder Jack Ma and early-stage investors like Warburg Pincus. The IPO was originally supposed to bring 34.5 billion US dollars (28.8 billion euros) into the coffers and overshadow Saudi Aramco’s (Aramco (Saudi-Aramco)) largest IPO to date at 29 billion dollars ngu / fba