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asia

China Blocked Ant IPO Over Concerns About Politically Connected Shareholders

By
Juro Osawa
· · Source: The Wall Street Journal

One of the reasons why China’s government suspended Ant Group’s initial public offering in November was that the company’s investors who stood to gain from its $37 billion IPO included those with ties to political families that represent a potential challenge to President Xi Jinping, the Wall Street Journal reported. For example, one of Ant’s shareholders is private equity firm Boyu Capital,...

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