Alibaba Group Holding Ltd. (BABA) shares are declining on Tuesday morning trade as Ant Group's $37 billion IPO was suspended in Hong Kong and Shanghai. Ant's IPO was expected to be the World's biggest initial public offering.
The listing scheduled on Thursday was suspended as the Shanghai Stock Exchange found major issues in a regulatory filing by the digital payments company Ant Group, founded by Alibaba's Jack Ma. Further, Ma was called for a joint meeting with the Central bank and top financial regulators.
Currently, shares are at $290.68, down 6.47 percent from the previous close of $310.84 on a volume of 27,410,619. The shares have traded in a range of $169.95 to $319.32 on an average volume of 12,846,127.
For comments and feedback contact: editorial@rttnews.com
