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China clips Jack Ma's wings with Ant Group IPO delay

Problems had been brewing for some time

| China
Jack Ma speaks at the Kyiv International Economic Forum in November 2019: the regulators have finally had enough.   © Sipa/AP

Professor Michael Wade holds the Cisco Chair in Digital Business Transformation at the Institute for Management Development. Dr. Elizabeth Teracino is a researcher at IMD's Global Center for Digital Business Transformation.

In a surprise move, Ant Group announced that it was suspending its dual initial public offering on the Shanghai and Hong Kong stock exchanges late on Tuesday night. The move was a dramatic step down from what was to be the world's largest IPO, where the company was poised to raise $34.4 billion.

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