Halting the initial public offerings due to a "change in regulatory environment” is the government’s way of asserting that Ant is more fin than tech. Ma and team won’t get away with being digital cowboys riding roughshod over the financial system.
ANT Group Co. will survive the 11th-hour suspension of its blockbuster $35 billion listing in Shanghai and Hong Kong if the company can learn from its technology peers.
If there’s one thing that founder Jack Ma and Chinese regulators probably agree upon, it’s that finance and technology make for a powerful combination. The mix is where they ran into trouble.
Halting the initial public offerings due to a "change in regulatory environment” is the government’s way of asserting that Ant is more fin than tech. Ma and team won’t get away with being digital cowboys riding roughshod over the financial system.
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