Alibaba loses 7% of its value after suspending the launch of the Ant group

The suspension of the IPO of Ant Group, which holds the new world record in the size of the initial public offering of a company in the financial markets, exceeded 34 billion dollars. Alibaba, which owns 33% of it, led to a decline in the Hong Kong Stock Exchange by more than 7% today, Wednesday, while it decreased 8% On Wall Street.

Ant Group's financial comptroller, Jack Ma, CEO Eric Jing, and CEO Simon Ho, have been summoned and interviewed by regulators in China, according to a statement released Monday by the China Financial Market Regulatory Commission (CSRC).

"Ant" reported changes in the financial technology regulatory environment that may lead to the company not meeting the listing requirements or the information disclosure requirements, the Shanghai Stock Exchange said in an interpretative statement on the suspension.

As a result, the exchange decided to suspend its listing on the market for innovation and technology companies, known as "STAR" - the Chinese version of the NASDAQ technology index.

The Ant Group was preparing to raise just under $ 34.5 billion in what would have been the largest initial public listing in the world. It was planning a dual listing in Shanghai and Hong Kong on Thursday.

On Monday, China's central bank and regulators released new draft rules for online microfinance, which could affect Ant Group.

In a statement, an Alibaba spokesperson said the company would support the Ant Group by overcoming regulatory hurdles.

The spokesperson said: "We will be proactive in supporting Ant Group to adapt and adopt the evolving regulatory framework. We have full confidence in the ability of the Ant group colleagues to do a good job, and the community has high expectations on Alibaba. We will continue to work hard not only to meet expectations but to exceed them and fulfill them. With our responsibility towards society."