Ant Group’s $37 Billion Listing Suspended in Shanghai and Hong Kong

Ant Group’s $37 Billion Listing Suspended in Shanghai and Hong Kong
A logo of Ant Group is pictured at the headquarters of the company in Hangzhou city, Zhejiang Province, China, on Oct. 29, 2020. Aly Song/Reuters
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HONG KONG—Ant Group’s $37 billion listing has been suspended in both Shanghai and Hong Kong on Nov. 3 in a dramatic move just two days before what was set to be the world’s largest-ever stock market debut.

The Shanghai stock exchange first announced that it had suspended Ant’s initial public offering on its STAR market, prompting Ant to also freeze the Hong Kong leg of the dual listing.