Alibaba shares dropped about 8% in value, trading at a 6-month low in Hong Kong amid a proposed stock repurchase program of between $4 billion to...
The eCommerce juggernaut seems to be in hot water over its affiliate company, better known as Ant Group,
Ant Group's world's biggest IPO was reportedly halted by the President of China.
Ant Group could see its valuation dropping as much as $150 billion after its public listing was postponed.
Ant Group's world record-setting IPO scheduled to hold in Hong Kong and Shanghai has been suspended.
Ant Group has begun the process of a concurrent initial public offering in what could mark one of the biggest IPOs of 2020.
Ant Group now operates Alipay which millions of shoppers use across Alibaba’s e-commerce networks.