Alibaba stock dropped 9% premarket. What happened?
Alibaba stock dropped 9% premarket. What happened?
Ant Technology Group, Inc. was suspended from being listed on the Shanghai Stock Exchange.
蚂蚁科技集团(Ant Technology Group，Inc.)被暂停在美国证券交易所上市上海证券交易所.
Below is the notice letter from Shanghai Stock Exchange to Ant Group:
以下是上海证券交易所致蚂蚁集团的通知信：
Your Company originally applied to be listed on the Shanghai Stock Exchange (hereinafter referred to as the Exchange) on November 5, 2020 on the CRE Board. Recently, your company's actual controller, chairman and general manager have been jointly interviewed by the relevant authorities, and your company has also reported changes in the financial technology regulatory environment in which your company operates. This may result in your company not meeting the conditions for listing or information disclosure requirements. In accordance with Article 26 of the Administrative Measures for the Registration of Initial Public Offering of Shares on the Kotron Board (Trial) and Article 60 of the Review and Approval Rules for Stock Issuance and Listing on the Shanghai Stock Exchange, and in consultation with the Sponsor, the Firm has decided to suspend the listing of your Company. Your company and the sponsor shall make an announcement in accordance with the regulations, explaining the material circumstances and your company will be suspended from listing. The Exchange will maintain communication with your company and the sponsor.
-Shanghai Stock Exchange (SSE)
贵公司原申请于2020年11月5日在上海证券交易所(以下简称联交所)中介板上市。近日，贵公司实际控制人、董事长、总经理接受了有关部门的联合约谈，贵公司也反映了贵公司经营所处的金融科技监管环境的变化。这可能导致贵公司不符合上市条件或信息披露要求。根据《科创板首次公开发行股票登记管理办法(试行)》第二十六条和《上海证券交易所股票发行上市审批规则》第六十条规定，经与保荐人协商，本公司已决定暂停贵公司的上市。贵公司和保荐人应按规定公告，说明具体情况，贵公司将被暂停上市。交易所将与贵公司和赞助商保持沟通。
--上海证券交易所(SSE)
After the announcement, $Alibaba Group Holding Ltd(BABA.US)$ (Ant Group's parent company) share price dropped 5% premarket.
在宣布之后，$阿里巴巴(BABA.US)$(蚂蚁集团母公司)股价盘前下跌5%。
Update: Another suspension announcement from Hong Kong Stock Exchange!
更新版：香港交易所又宣布停牌！
Hong Kong Stock Exchange followed to respond, "The listing of Ant Group on Hong Kong Stock Exchange will also be suspended."
港交所随后回应称，“蚂蚁集团在港交所的上市也将暂停.”
After the announcement, Alibaba's stock price was down nearly 9%.
在宣布之后，阿里巴巴股价下跌近9%。
Ant Group's response
蚂蚁集团的回应
Source: Shanghai Stock Exchange, Moomoo
来源：上海证券交易所moomoo
Editor: Rachel
编辑：瑞秋