NEW YORK - China's President Xi Jinping personally decided to pull the plug on Ant Group's US$37 billion initial public offering, the Wall Street Journal reported on Thursday , citing Chinese officials with the knowledge of the matter.
President Xi ordered Chinese regulators to investigate and effectively shut down Ant's stock market flotation, the report said.The Information Office of the State Council, China's Cabinet, could not be reached immediately for comment. Earlier this month, Reuters reported the speech set off a chain of events that torpedoed the listing of Ant.
Huhuhu... Jack Must Have Offended Emperor Xi 😁
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