A quick response (QR) code that links a user to Ant Group’s Alipay online payment platform at a market in Beijing on November 3, 2020. Photo: AFP A quick response (QR) code that links a user to Ant Group’s Alipay online payment platform at a market in Beijing on November 3, 2020. Photo: AFP
A quick response (QR) code that links a user to Ant Group’s Alipay online payment platform at a market in Beijing on November 3, 2020. Photo: AFP

Ant Group’s IPO delay leaves five mutual funds with US$9 billion in limbo, as potential first-day trading bonanza goes poof

  • Ant’s shelving of the listing clouds the future fate of five Chinese mutual funds that were sold to the public to buy the giant’s IPO shares as strategic investors
  • China Universal Asset and China Asset, among the managers of the five funds, say they have no plan on how they will deal with fundholders’ money

Topic |   IPO
A quick response (QR) code that links a user to Ant Group’s Alipay online payment platform at a market in Beijing on November 3, 2020. Photo: AFP A quick response (QR) code that links a user to Ant Group’s Alipay online payment platform at a market in Beijing on November 3, 2020. Photo: AFP
A quick response (QR) code that links a user to Ant Group’s Alipay online payment platform at a market in Beijing on November 3, 2020. Photo: AFP
READ FULL ARTICLE