Market Chatter: Ant Douses Cold Water on Talks of IPO Restart

MT Newswires Live18:11

Alibaba (HKG:9988) affiliate Ant denied rumors it has immediate plans to restart its initial public offering, the South China Morning Post reported Thursday.

Ant canceled its $39.7 billion IPO in Hong Kong and Shanghai in November 2020 less than 48 hours before market launch as it faced scrutiny by regulators, the report said.

The speculation strengthened within the last two weeks following founder Jack Ma's speech at Alipay's 20th anniversary, saying the "next 20 years of Ant" will face "more miracles," as well as the appointment of then-finance chief Cyril Han as chief executive, the SCMP said.

Ant said "currently has no plans to go public, and there are no plans for a so-called 'back-door listing," the SCMP reported.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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