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Chinese President Xi personally halted $37bn Ant IPO: Report

China’s President Xi Jinping personally decided to pull the plug on Ant Group’s $37bn initial public offering, the Wall Street Journal reported on Thursday, citing Chinese officials with the knowledge of the matter. The decision to stop what would have been the world’s largest-ever IPO came days after the financial-tech giant’s billionaire founder Jack Ma launched a public attack on the country’s financial watchdogs and banks.

News source ~ Aljazeera