Analysts say Ma’s criticism of authorities likely reason for Ant Group’s IPO being halted
In the hours after Chinese regulators halted what would have been the world’s largest share offering in history, of Jack Ma’s Ant Group, a phrase began circulating on the Chinese internet: “There is no so-called era of Ma Yun, only Ma Yun as part of the era.”
For years, Jack Ma represented the rise of the self-made tech entrepreneur in China, with Chinese media referring to the years of heady growth for the sector as the “era of Ma Yun”, a path paved by the success of his e-commerce giant Alibaba and its online finance spin-off, Ant Group. After the suspension, shares in Alibaba, which owns part of Ant, fell more than 8%, shaving $3bn (£2.3bn) off Ma’s net worth.
Continue reading…Analysts say Ma’s criticism of authorities likely reason for Ant Group’s IPO being haltedIn the hours after Chinese regulators halted what would have been the world’s largest share offering in history, of Jack Ma’s Ant Group, a phrase began circulating on the Chinese internet: “There is no so-called era of Ma Yun, only Ma Yun as part of the era.”For years, Jack Ma represented the rise of the self-made tech entrepreneur in China, with Chinese media referring to the years of heady growth for the sector as the “era of Ma Yun”, a path paved by the success of his e-commerce giant Alibaba and its online finance spin-off, Ant Group. After the suspension, shares in Alibaba, which owns part of Ant, fell more than 8%, shaving $3bn (£2.3bn) off Ma’s net worth. Continue reading…