A stand-off between China's powerful financial regulators and the country's most high profile businessman, Jack Ma, put a cloud over the future of the Ant Group IPO.
One of Ant Group's offices in Hangzhou earlier this month. Staff and investors have been left in limbo since the IPO was halted. Bloomberg
Now that Ant Group’s would-be record initial public offering is suspended, what’s next for the high-flying fintech behemoth and investors who hoped to make a quick killing?
Both may be in for a long wait as Ant Group adapts its business to tough new regulations on microlending, one of the company’s biggest business drivers, according to analysts, investment bankers and market experts. And whenever it comes back to the market, Ant will probably face a significant haircut off its valuation of 2 trillion yuan ($410 billion).
