Thursday was set up to be a big day for Alibaba (BABA). The Chinese e-commerce giant is readying to present F2Q21 results, with favorable macro trends pointing to another display of strength. On the same day, Ant Financial – Alibaba’s sister company in which it claims 33% direct equity ownership – was supposed to list on the Shanghai Stock Exchange. At $37 billion, equating to a $310 billion valuation, the listing is set to be the largest IPO on record.But it appears the latter is now on hold. On Tuesday, the exchange disqualified Ant Group’s listing, citing a “changing regulatory …read more
Source:: Yahoo Finance
