Ant Technology Group, Inc. was suspended from being listed on the Shanghai Stock Exchange.
Below is the notice letter from Shanghai Stock Exchange to Ant Group:
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)
After the announcement, $Alibaba Group Holding Ltd(BABA.US)$ (Ant Group's parent company) share price dropped 5% premarket.
Update: Another suspension announcement from Hong Kong Stock Exchange!
Hong Kong Stock Exchange followed to respond, "The listing of Ant Group on Hong Kong Stock Exchange will also be suspended."
After the announcement, Alibaba's stock price was down nearly 9%.
Ant Group's response
Source: Shanghai Stock Exchange, Moomoo
Editor: Rachel