The suspension of Ant Group’s highly anticipated initial public offering took center stage in all Alibaba (BABA) related news last week. The Chinese e-commerce giant owns roughly one-third of the fintech company, which was expected to go public last Thursday. But things didn’t go as planned, as the Chinese regulators halted the $34.5 billion public debut – the largest IPO on record.While the IPO is expected to get the go ahead eventually, the unfolding drama made for an interesting backdrop to the release of Alibaba’s quarterly numbers.F2Q revenue increased by 30% year-over-year to 155 billion renminbi ($22.8 billion) and came …read more
Source:: Yahoo Finance
