Mainland Chinese retail investors who applied for Ant Group's A-shares will get refunds after the fintech giant's record initial public offering in Shanghai and Hong Kong was suspended.
Underwriters will return the funds and brokerage commission fees plus interest to investors starting Saturday, Ant Group said Thursday in a statement. The money should be back in investors' accounts by Monday, and the shares they subscribed to will be canceled Friday. The company promised Wednesday to refund investors who subscribed to the Hong Kong offering.
