HONG KONG - China's central leadership has given billionaire Jack Ma's Ant Group a tentative green light to revive its initial public offering , two sources with knowledge of the matter said, in the clearest sign yet Beijing is easing its crackdown on the tech sector.
In a publicly released statement, Ant said there was no plan to relaunch its IPO, without elaborating. It did not respond to Reuters' request for comment on whether it had received a green light from Beijing.At the time, it was slated to be valued at around US$315 billion and planned to raise US$37 billion, which would have been a world record.
Ant wants to keep the IPO revival plans low profile pending a formal announcement, after having attracted regulatory glare in its first attempt back in 2020 with the waves the offering created as the world's largest ever equity float, a separate source with direct knowledge of the matter said.
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