Beijing interviews Jack Ma over $37bn Ant IPO

The People’s Bank of China and three other Chinese regulators said on Monday that they had summoned Jack Ma, the founder of Ant, and two other executives for questions ahead of the company’s $34bn public offering, with shares due to start trading on Thursday.

In a brief statement on Monday, the PBoC, the China Banking and Insurance Regulatory Commission, the Securities Regulatory Commission and the State Administration of Foreign Exchange said they had “conducted regulatory interviews with Ant Group’s actual controller Jack Ma, chairman Eric Jing, and chief executive Simon Hu.”

There were no further details.

Mr Ma last month gave a speech in Shanghai criticising regulators in China and abroad over their excessive regulation of banking and financial technology.

Ant’s IPO in Shanghai and Hong Kong is expected to be the world’s biggest, after investors signed up for $37bn of shares. Last Thursday, the company’s bankers increased the offer after retail bids exceeded the value of shares on sale by more than 870 times. The expanded deal valued the company at about $316bn.

More details to follow.

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