SINGAPORE, Nov 3 (Reuters) - The Shanghai and Hong Kong stock exchanges on Tuesday suspended Ant Group’s IPO, which was initially set for Thursday, in a stunning setback for what was on track to be the world’s largest-ever share sale.
Following are instant reactions from analysts:
PHILIPPE ESPINASSE, CAPITAL MARKETS CONSULTANT AND FORMER INVESTMENT BANKER:
“Either this is something that requires short-term clarification through an announcement and/or supplemental prospectus, and investors could be asked to reconfirm their orders, generally not many do so, when something like this happens. Or the deal will simply be pulled and delayed for a period time, pending resolution of the issues.
“This a significant blow or development for both for the company and other potential fintech issuers in Hong Kong and mainland China.”
Reporting by Scott Murdoch in Hong Kong; editing by Edward Tobin