well, well
this is a big fact and makes the point that even the most wealthiest people in China (or Russia, also) could fall in seconds if the politics wants their heads.
In November,3 - the Shanghai Stock Exchange stated that the listing of Ant Group was postponed, just less than two days before this should happen.
The Jack Ma's company should gather more than 34 billion $ from this Shanghai and Hong Kong listing, becoming the largest IPO (Initial Public Offering) in history, taking the crown from Saudi oil company - Aramco who raised 29.4 billion $. At the 10.26 $/share and 1.67 billion shares offered (11% from the total of the company) the value of Ant Group is more that 310 billion $, making it one of the most important companies in the world.
And dont't forget that Ant Group is an affiliate of Alibaba company (BABA), also founded by Ma. Alibaba shares lost more that 9% at New York Stock Exchange after the postponing annoucement regarding Ant Group (I should not be worried, the price will come back).
Few days before, Ma publicly criticized Chinese regulators for being too risk averse and stopping the innovations in this way.
"Jack Ma's aggressive comments last weekend exacerbate the brewing conflict between large Chinese tech companies and powerful regulators," Lu said in emailed comments. "Ant is likely to adjust its IPO valuation as a result of this intervention and delay its launch date."
It seems the Chinese regulators wants to show that they are the ones with the power and they are the ones who decides what should be done and how.
This come after the Communist Party Guidelines published in the September, where the President Xi Jinping is declaring his direct intentions to take all necessary measures for assuring that the private companies will support the Government philosophy.
How this could influence crypto world? I am sure that the most wealthy people in dictatorship countries are preparing a way to escape in case of Party's will to confiscate their assets, so, don't be surprised if Jack Ma or others like him will have a big part of crypto assets in their portfolio. Maybe they will be prepared for STO's (Security Token Offerings) soon. This is the next step for having a financial independence. The last one is the freedom of individual.
