November 18

Bankers reel as Ant IPO collapse threatens US$400m payday

Bankers reel as Ant IPO collapse threatens US$400m payday

A boat or even a vacation home FOR bankers, Ant Group Co’s initial public offering (IPO) was the kind of bonus-boosting deal that can fund a big-ticket splurge on a car.

Ideally, they did not get in front of by themselves.

Dealmakers at businesses including Citigroup Inc and JPMorgan Chase & Co had been set to feast for an estimated charge pool of almost US$400 million for handling the Hong Kong part of the sale, but were alternatively kept reeling after the listing here as well as in Shanghai suddenly derailed times before the scheduled trading debut.

Top executives near to the transaction stated they certainly were trying and shocked to find out just exactly just what lies ahead. And behind the scenes, monetary specialists across the world marvelled within the shock drama between Ant and Asia’s regulators therefore the chaos it had been unleashing inside banking institutions and investment companies.

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Some quipped darkly concerning the payday it is threatening. Continue reading

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