China probes Ant’s speedy listing process after halting IPO

BEIJING (Bloomberg): Chinese authorities are probing the speed with which Ant Group Co’s ill-fated listing was approved, according to people familiar with the matter.

The investigation, being carried out by officials from multiple agencies, has for several months inquired into the process by which China’s securities regulator approved the public offering, the people said, asking not to be identified discussing a sensitive matter.

Among questions being explored by the probe are why Ant’s IPO was fast-tracked, if the company made sufficient disclosures and whether it received preferential treatment in the allocation of its stock code, they said.