(Bloomberg) — Jack Ma was poised to become Asia’s richest person with Ant Group Co.’s initial public offering. Instead, his net worth tumbled almost $3 billion and both retail and institutional investors who were betting on a big first-day pop are in limbo.Alibaba Group Holding Ltd.’s U.S.-traded shares slid 8.1% in New York,the most since January, 2015, after Ant said its listings in both Shanghai and Hong Kong have been suspended. The Hong Kong stock fell as much as 9.3% in early local trading. Ma, a 56-year-old former English teacher who co-founded Alibaba with $60,000 and turned it into China’s …read more
Source:: Yahoo Finance
