Alibaba shares fell sharply in New York and Hong Kong after the Chinese e-commerce giant’s financial technology affiliate, Ant Group, suspended its $37 billion initial public offering. Ant’s dual listing in Shanghai and Hong Kong, originally scheduled for this Thursday, would have valued the company at $316 billion. Alibaba’s stake in Ant, 31.77% after the IPO, would have been worth about $100...
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The Briefing
Watching for Peak SPAC: The Information’s Tech Briefing

Have we hit peak SPAC yet? You could have asked that question any day over the past few weeks, or months. But lately things truly seem to be hitting a new level. Four new SPAC mergers were unveiled today alone, according to SPACInsider. Adult entertainment service Stripchat said it was planning a SPAC. We reported that a Chinese private equity firm was planning a SPAC. Underlying the SPAC...
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