Ant Group may resume IPOs once problems resolved: report

PBOC is still investigating monopolies in the fintech company.

Ant Group could resume its initial public offering (IPO) plans when its problems are resolved, according to China’s central bank chief, reports Bloomberg.

On a panel during the World Economic Forum on 26 January, People’s Bank of China governor Yi Gang said that relevant agencies are still investigating issues related to monopolies at the group, adding that the matters were “complicated” and some risks concerned consumer privacy.

Also Read: Ant Group's IPO fiasco signals stricter fintech regulation in China: S&P

To resolve the problems, regulators need a clear legal framework, Yi added.

“I would say that this is a process and also once the problem solved, it will go back to the track to continue consideration according to law,” the governor said in English.

Chinese regulators are asking Ant to work on a timetable to overhaul its business after abruptly halting its $35b IPO in November.

Here’s more from Bloomberg

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