Fintech company Ant Group’s listing on the Hong Kong and Shanghai stock exchanges is likely to be delayed past its original date of October. The listing could be the world’s largest initial public offering with the company expected to be valued at up to $250 billion.
However, the listing has not yet been approved by Chinese regulators. China Securities Regulatory Commission said it is:
“looking into the role of Alipay, Ant’s flagship payment platform, as the only third-party channel through which retail investors could buy into five Chinese mutual funds investing in the IPO.”
Ant Group may also be targeted with executive action from the Trump administration. Despite hardly conducting any business in the US, Trump cited Ant Group as a national security threat. This could result in them being put on a trade blacklist with restrictions similar to those currently imposed on Huawei.