(AOF) – Alibaba fell 5.80% to 112.68 dollars on Wall Street where the Chinese e-commerce giant has recently rebounded sharply. Chinese financial regulators have begun preliminary discussions on a possible relaunch of the IPO of its financial services subsidiary, Ant Group, Bloomberg said, citing people familiar with the matter. The company reacted on its Wechat account, stating that it had no intention of going public.
“On the advice of regulators, we are focused on steadily advancing our restructuring work and have no plans to launch an IPO,” the Ant Group denied, reports Reuters.
The cancellation of this operation in November 2020 was the first sign of a hardening of the Chinese authorities towards the Chinese technology sector. This IPO then announced itself as the largest ever, with more than 34 billion dollars raised.
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