To quote Anchorman’s Ron Burgundy: Well, that escalated quickly.
On Tuesday morning (November 3), Ant Group was readying itself to complete the world’s largest ever IPO, a $37 billion dual listing in Hong Kong and Shanghai.
By nightfall, after the markets closed in Asia, and even as Americans turned out in their millions to vote in the most bitterly contested presidential election in a generation, Chinese regulators moved to postpone the sale, leaving the financial technology firm to scout around for explanations and sweep up the wreckage.
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