FINANCIALS JUNE 9, 20226:59 PMUPDATED 2 HOURS AGO QUOTES-China to consider reviving Ant Group's IPO: Bloomberg News
Added 2022-06-09 13:30:05 +0000 UTCSINGAPORE, June 9 (Reuters) - Chinese financial regulators have started early stage talks on a potential revival of Ant Group’s initial public offering (IPO), Bloomberg News reported on Thursday, citing people familiar with the matter.
The U.S. listed shares of Alibaba Group Holdings , which owns nearly one-third of Ant, rose up to 4% in pre-market trading on the report.
DICKIE WONG, KINGSTON SECURITIES, EXECUTIVE DIRECTOR, HONG KONG
“Now could be a good time for the Ant IPO to come back. The Chinese government needs something to encourage economic growth and there has been an easing in some regulatory policies that had been put in place for the tech sector. That indicates that the regulatory risk for this sector is not as big as it was before.
“The size of Ant and the IPO will have to be smaller than what was planned in 2020 because the market conditions have changed and cannot be compared to now.”
