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.
螞蟻科技集團(Ant Technology Group，Inc.)被暫停在美國證券交易所上市上海證券交易所.
Below is the notice letter from Shanghai Stock Exchange to Ant Group:
以下是上海證券交易所致螞蟻集團的通知信：
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)
貴公司原申請於2020年11月5日在上海證券交易所(以下簡稱聯交所)中介板上市。近日，貴公司實際控制人、董事長、總經理接受了有關部門的聯合約談，貴公司也反映了貴公司經營所處的金融科技監管環境的變化。這可能導致貴公司不符合上市條件或信息披露要求。根據《科創板首次公開發行股票登記管理辦法(試行)》第二十六條和《上海證券交易所股票發行上市審批規則》第六十條規定，經與保薦人協商，本公司已決定暫停貴公司的上市。貴公司和保薦人應按規定公告，説明具體情況，貴公司將被暫停上市。交易所將與貴公司和贊助商保持溝通。
--上海證券交易所(SSE)
After the announcement, $Alibaba Group Holding Ltd(BABA.US)$ (Ant Group's parent company) share price dropped 5% premarket.
在宣佈之後，$阿里巴巴(BABA.US)$(螞蟻集團母公司)股價盤前下跌5%。
Update: Another suspension announcement from Hong Kong Stock Exchange!
更新版：香港交易所又宣佈停牌！
Hong Kong Stock Exchange followed to respond, "The listing of Ant Group on Hong Kong Stock Exchange will also be suspended."
港交所隨後迴應稱，“螞蟻集團在港交所的上市也將暫停.”
After the announcement, Alibaba's stock price was down nearly 9%.
在宣佈之後，阿里巴巴股價下跌近9%。
Ant Group's response
螞蟻集團的迴應
Source: Shanghai Stock Exchange, Moomoo
來源：上海證券交易所moomoo
Editor: Rachel
編輯：瑞秋