Employees line up for elevators near a company mascot during lunch hour at one of Ant Group Co's offices in Hangzhou, China, on Monday, Nov. 2, 2020. China warned Jack Ma and senior Ant executives that the fintech giant will face new curbs on its expansion, highlighting growing regulatory risk for the world’s largest initial public offering just days before its trading debut. - Bloomberg
HONG KONG, Nov 3 (AP): Chinese regulators summoned Ant Group founder Jack Ma and two other senior executives to a meeting just days before the company's shares are due to begin trading following a blockbuster offering expected to be the world’s largest.
In a statement issued on Monday, the People’s Bank of China, the China Banking and Insurance Regulatory Commission, the Securities Regulatory Commission and the State Administration of Foreign Exchange said they had conducted "regulatory interviews” with Ma, Ant Group's chairman Eric Jing and its president Hu Xiaoming.
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