The issuer and the joint lead underwriter issued the Announcement of Initial Public Offering and Suspension of Listing on the Science and Technology Innovation Board of Ant Technology Group Co., Ltd.. In order to effectively protect the interests of investors, it is decided to suspend this issuance. It will be returned to investors according to the new share subscription funds paid by investors and the corresponding brokerage commission for new share placement, plus the interest on bank deposits during the same period. Refund procedures began on June 6, 2020 165438+, and the funds were refunded on June 9, 2020.
After the suspension of issuance, Ant Group will decide whether to restart the issuance and make a timely announcement on the basis of full verification and evaluation within the validity period of the initial public offering registration approval.
Ant Group apologized for this matter. Ant Group announced that the shares applied for public offering in Hong Kong will be returned in two batches without interest. Ant Group has not announced the details of the new fund refund arrangement for A shares. According to the provisions of the new Securities Law, interest is required to be paid for the return of new funds. At the same time, the suspension of listing is intended to protect small and medium-sized investors, because listing at this time will increase the difficulty of strict supervision of subsequent financial technology. From the perspective of protecting small and medium-sized investors, it may be better to suspend listing and avoid the situation of falling after listing.
Some analysts said that regulatory risk is the biggest risk factor for financial technology companies. Although most investors still have confidence in the growth of financial technology, the future valuation prospects should be re-examined. Some financial technology companies said that financial technology companies such as ants have always refused financial valuation. For example, the valuation of banks depends on the price-to-book ratio, while the valuation of internet companies depends more on the future free cash flow and discount rate. Therefore, in this refund incident, there are also corresponding measures to deal with it.