Ant Group issues a letter of apology: Shareholders already lost HKD 424 million. – Idaho Reporter

Asia

Ant Group issues a letter of apology: Shareholders already lost HKD 424 million.

Tonight, the Shanghai Stock Exchange said that due to the fact that the actual controller, chairman and general manager of Ant Group have been jointly interviewed by relevant departments in recent days, it will suspend the listing process of Ant Group in accordance with relevant regulations. After that, the Hong Kong Stock Exchange also issued an announcement to suspend the listing of Ant Group.

Ant Group has issued a letter to investors saying that it apologizes and will properly handle the follow-up work in accordance with the relevant rules of the two exchanges.

Letter from Ant Group to Investors:

Dear investors:

Ant Group received a notice from the Shanghai Stock Exchange today saying how our A-share listing plan on the Shanghai Stock Exchange is suspended. Affected by this, Ant’s plan to simultaneously list H shares on the Hong Kong Stock Exchange will also be suspended.

The Ant Group apologizes for the trouble this has caused investors. We will properly handle the follow-up work in accordance with the relevant rules of the two exchanges.

We will adhere to our original aspiration and mission, and continue to use our enthusiasm, professionalism, and responsibility to serve the large, small and micro enterprises and mass consumers.

We will maintain close communication with the Shanghai Stock Exchange and regulatory authorities regarding the next progress of the issuance and listing, and disclose relevant information in a timely manner.

November 3, 2020

On November 3rd, the Shanghai Stock Exchange postponed the listing of Ant Group’s A shares , and Ant also issued an announcement on the Hong Kong Stock Exchange to postpone the listing of H shares . The postponement of the listing of Hong Kong stocks and the 1.3 trillion capital freeze of 1.55 million shareholders will cause serious losses to shareholders, because Hong Kong margin interest is generally non-refundable, and the same was true for Budweiser previously.

According ng to statistics from Sina Hong Kong stocks, if all of the 1.3 trillion yuan is financing subscription, based on the 2.98% margin interest of Phillip Securities, the 1.55 million shareholders will lose 424 million Hong Kong dollars in interest.

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