On November 3, the Shanghai Stock Exchange's official website issued the "Decision on Suspending the Listing of Ant Technology Group Co., Ltd. on the Sci-tech Innovation Board" in the evening. In the decision, the Shanghai Stock Exchange stated that recently, the actual controller, chairman, and general manager of Ant Company were jointly conducted supervisory interviews by relevant departments. Ant also reported changes in the financial technology regulatory environment and other major issues. This major event may cause your company to fail to meet the issuance and listing conditions or information disclosure requirements. According to regulations, it was decided that Ant Company suspends listing. Stock Exchange: Suspend the listing of Ant Technology Group
Affected by the news, Alibaba's pre-market share price plunged by more than 6%. It was up 1% before.
Attach the full text of the announcement
Ant Technology Group Co., Ltd.:
Your company originally applied for listing on the Science and Technology Innovation Board of the Shanghai Stock Exchange (hereinafter referred to as the Exchange) on November 5, 2020. Recently, it happened that your company’s actual controller, chairman, and general manager were jointly conducted supervisory interviews by relevant departments, and your company also reported on major issues such as changes in the financial technology regulatory environment. This major event may cause your company to fail to meet the issuance and listing conditions or information disclosure requirements. In accordance with Article 26 of the "Administrative Measures for the Registration and Administration of Initial Public Offerings on the Science and Technology Innovation Board (for Trial Implementation)" and Article 60 of the "Shanghai Stock Exchange Rules for the Review of Stock Issuance and Listing", and soliciting the opinions of sponsors, the Exchange has decided Your company is suspended from listing. Your company and the sponsor shall make an announcement in accordance with the regulations, explaining the relevant circumstances of major issues and your company's suspension of listing. The firm will maintain communication with your company and sponsors.