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Ant Group's $37 billion listing held back by Chinese regulators

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China's Ant Group, the company behind the popular e-wallet system AliPay was on track for a 37 billion dollar listing on Tuesday, that was until the Shanghai Stock Exchange threw a major wrench into the works.

If the listing were successful, it would have left Saudi Aramco's 2019 record float of 29.4 billion dollars in the dust.

The Shanghai stock exchange said it had suspended the company's initial public offering on its tech-focused STAR Market, prompting Ant to also freeze the Hong Kong leg of its dual listing scheduled for Thursday in what was viewed as a major slap for the company's founder and billionaire, Jack Ma.
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