Hong Kong and Shanghai suspends Ant Group's record $34.5 billion IPO

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Ant Group?s world record-setting initial public offering in Shanghai and Hong Kong has been suspended. CNBC's David Faber and Eunice Yoon report.

Ant Group?s world record-setting initial public offering in Shanghai and Hong Kong has been suspended.

The Shanghai and Hong Kong stock exchanges made the announcement on Tuesday. Alibaba, which owns a roughly 33% stake in Ant Group, saw its shares fall over 5% in U.S. premarket trading.

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