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China tech

Ant Group's mega IPO faces specter of US sanctions

China's fintech king possibly forced to find new underwriters and delay listing

The Alipay app is a popular method of payment in China, but has limited use outside the country.

SHANGHAI/WASHINGTON -- The threat of U.S. sanctions against Ant Group has sparked concern about the impact on the Chinese fintech company's initial public offering, which is expected to be the largest stock debut in history.

Known for its Alipay payment app, the company is a unit of leading Chinese e-commerce platform Alibaba Group Holding and is among many Chinese tech companies to come under pressure from the deteriorating ties between Washington and Beijing.

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