The unravelling of the Ant IPO
The Story of Money
Manuela Saragosa
4.4 • 400 Ratings
🗓️ 18 November 2020
⏱️ 19 minutes
🧾️ Download transcript
Summary
The IPO of Jack Ma's Ant Group would have been the largest in history: it was expected to raise $37bn at a valuation of $316bn. But just days before the stock market listing, China called it off. The FT's Ryan McMorrow and Hudson Lockett report on what led to Beijing pulling the plug, and what it means for China's private sector. Further reading: 'The party is pushing back': why Beijing reined in Jack Ma and Ant.
Review clips: Reuters, World Economic Forum, CNA, Bloomberg, Yahoo Finance.
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Transcript
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| 0:30.4 | The most anticipated public market listing of this year wasn't a Silicon Valley startup or yet another |
| 0:36.1 | unicorn backed by Japanese conglomerate Soft Bank. |
| 0:39.1 | It was China's Ant Group. |
| 0:41.1 | It's thought the sale could raise as much as $30 billion, making it the world's largest |
| 0:46.2 | ever IPO. |
| 0:47.6 | An ant listing has been rumored to be in the works for years and folks have been waiting for |
| 0:52.3 | ages for this thing to come to market. |
| 0:55.0 | And is the firm behind Ali Pay, the biggest player in China's 62 trillion dollar mobile payments market. |
| 1:02.0 | But an October speech by China's best-known businessman has put this listing in peril. |
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