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Ant's mega IPO in turmoil after Shanghai suspends listing

Hong Kong portion of offer also halted after late intervention by Chinese regulators

Ant Group's planned initial public offering has been thrown into doubt after the Shanghai Stock Exchange suspended its portion of the fundraising.   © VCG/Getty Images

HONG KONG -- Ant Group's record-breaking initial public offering has been thrown into turmoil after the Shanghai Stock Exchange cited "major" changes to the Chinese fintech group's regulatory environment and suspended the listing.

Ant said in response that it would also halt the Hong Kong portion of what was set to be the world's largest IPO. The company was due to make its debut on both markets on Thursday and was set to raise as much as $39.6 billion across the two exchanges.

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