Ant Group’s record $34.5 billion IPO suspended in Shanghai and Hong Kong a day after Jack Ma met with China regulators

Ant Group’s record $34.5 billion IPO suspended in Shanghai and Hong Kong a day after Jack Ma met with China regulators

Alibaba Group founder and Executive Chairman Jack Ma.

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Ant Group's IPO has been suspended in Shanghai and Hong Kong a day after Jack Ma and top executives were questioned by China regulators.The meeting and changes in the regulatory technology environment have disqualified Ant Group from listing on the exchange, according to a filing by the Shanghai stock exchange.Ant was planning on a dual listing in Shanghai and Hong Kong on November 5.Parent group Alibaba's shares plunged nearly 10% on Tuesday.Visit Business Insider's homepage for more stories.

Ant Group's initial public offering has been suspended on both Shanghai and Hong Kong stock exchanges a day after billionaire Jack Ma was summoned by Chinese regulators.

Four departments jointly interviewed Ant Group's top executives on Monday. No further details were provided on the