The sudden halt to Ant Group Co.’s giant initial public offering left investors hanging, employees shellshocked and shareholders trying to come to grips with why China pulled the plug on the record-breaking deal when it was so close to the finish line.
A growing regulatory assault on Ant and co-founder Jack Ma is forcing a reassessment of how much the financial-technology giant is worth and whether the company’s growth and profitability will be severely crimped by Beijing in the years ahead.
On…
This post first appeared on wsj.com
