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U.S. should try to delay IPO of China's Ant Group, says Senator Rubio
Source: Reuters
BUSINESS NEWS
OCTOBER 9, 2020 5:00 PM UPDATED 42 MINUTES AGO
U.S. should try to delay IPO of China's Ant Group, says Senator Rubio
By Alexandra Alper
4 MIN READ
WASHINGTON (Reuters) - Senator Marco Rubio, who has successfully urged the Trump administration to pursue investigations of Chinese companies, called on Friday for the U.S. government to consider options to delay an initial public offering for China's Ant Group, the fintech arm of Chinese e-commerce firm Alibaba 9988.HK.
“It’s outrageous that Wall Street is rewarding the Chinese Communist Party’s blatant crackdown on Hong Kong’s freedom and autonomy by orchestrating Ant Group’s IPO on the Hong Kong and Shanghai stock exchanges,” Rubio, a Republican, said in a statement to Reuters.
“The Administration should take a serious look at the options available to delay Ant Group’s IPO,” he added.
The Hong Kong leg of the IPO is being sponsored by China International Capital Corp (CICC) 3908.HK, Citigroup C.N, JPMorgan JPM.N, and Morgan Stanley MS.N. Credit Suisse CSGN.S is working as a joint global coordinator. Goldman Sachs GS.N is also involved.
-snip-
OCTOBER 9, 2020 5:00 PM UPDATED 42 MINUTES AGO
U.S. should try to delay IPO of China's Ant Group, says Senator Rubio
By Alexandra Alper
4 MIN READ
WASHINGTON (Reuters) - Senator Marco Rubio, who has successfully urged the Trump administration to pursue investigations of Chinese companies, called on Friday for the U.S. government to consider options to delay an initial public offering for China's Ant Group, the fintech arm of Chinese e-commerce firm Alibaba 9988.HK.
“It’s outrageous that Wall Street is rewarding the Chinese Communist Party’s blatant crackdown on Hong Kong’s freedom and autonomy by orchestrating Ant Group’s IPO on the Hong Kong and Shanghai stock exchanges,” Rubio, a Republican, said in a statement to Reuters.
“The Administration should take a serious look at the options available to delay Ant Group’s IPO,” he added.
The Hong Kong leg of the IPO is being sponsored by China International Capital Corp (CICC) 3908.HK, Citigroup C.N, JPMorgan JPM.N, and Morgan Stanley MS.N. Credit Suisse CSGN.S is working as a joint global coordinator. Goldman Sachs GS.N is also involved.
-snip-
Read more: https://www.reuters.com/article/us-usa-antfinancial-ipo/u-s-should-try-to-delay-ipo-of-chinas-ant-group-says-senator-rubio-idUSKBN26U2I6
