Is Ant Group a Risk to China's Financial System?
November 2020, Chinese fintech giant Ant Group had been set for a titanic $34.5 billion IPO on the Shanghai and Hong Kong markets. The company would be worth something like $300 billion.
Jack Ma, the biggest individual shareholder, would be $27 billion richer. The IPO would have been the largest in the world and it sparked a frenzy in China over its shares.