Nov. 3, 2020
China's Regulators Talk with Jack Ma and Execs ahead of Ant Listing
BEIJING, November 2 (TMTPOST)— Four China’s regulators—the People’ Bank of China (PBoC), the China Banking and Insurance Regulatory Commissions (CBIRC), China Securities Regulatory Commission (CSRC) and the State Administration of Foreign Exchange (SAFE) had held talks with Ant Group’s founder and actual controller Jack Ma, its chairman Eric Jing and CEO Simon Hu, according to a statement of CSRC released Monday. These regulators didn’t reveal further details on the regulatory talk, which happened just ahead of Ant’s record dual listing. Ant later said it will thoroughly implement opinions that regulators expressed in the recent talks and continue to follow the guidelines of ‘stable innovation, embracing regulation, serving the real economy and openness for mutual benefit‘, to improve inclusive service capacity and to help the growth of economy and people’s well-being. Ant is scheduled to list in Shanghai and Hong Kong on November 5 and is set to raise more than $37 billion including a 15% over-allotment , setting the largest ever IPO across the world.
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