China said to be probing how Ant Group got speedy approvals for its IPO last year
By Reuters
April 27, 2021
China is investigating how Ant Group founder Jack Ma got speedy approvals for the company’s stock listing last year, the Wall Street Journal reported on Tuesday, citing people with knowledge of the matter.
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Yu’e Bao is targeted at individuals and is one of the biggest money market funds in the world.
Last year, Ant’s valuation was touted at $315 billion for its IPO.