Ant IPO debacle prompts rethink on China fintechs
Push for fintechs to have more skin in the game could increase their accountability, cut excessive consumer leverage
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Singapore
THE suspension of Ant Financial's US$34 billion initial public offering (IPO) less than 48 hours before its trading debut is expected to dampen the valuation of Alibaba's fintech arm, as well as that of other Chinese fintech companies looking to list in Greater China or even in the US, industry watchers say.
No one is expecting this to be the end of Ant's listing aspiration. Most believe the deal will return as soon as just months, albeit at a smaller size, once the regulatory issues are straightened out.
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