Investors are still trying to parse the fallout from the recent decision to pull the blockbuster initial public offering of Ant Group.
China’s biggest financial technology group had been set to raise $37bn in the world’s largest IPO before Beijing’s intervention this month. Now China watchers are looking at what the far-reaching ripple effects will be of the unanticipated policy move — and its future victims and beneficiaries.
The answer is not very simple. The official decision was part of a growing initiative to rein in all micro lenders with proposed new rules that require internet platforms to provide more of their own funding for the loans they arrange.
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