It is going to sell the largest public share ever, the most important international debut of China’s Ant Group which will boost the reputation of the financial technology company and the Shanghai and Hong Kong stock exchanges where it was listed.

Until then, that is, the Chinese government had blocked Ants ’journey of early public opportunities into its tracks.

Officially, Ant Ant Group’s 35 35 billion IPO has stalled until it can comply with Chinese government regulations that came into force on November 1, including fixing a capital deficit.

Unofficially, analysts say the postponement is a serious muscle flaw over Chinese President Xi Jinping, the country’s second-richest man, after Jack Ma, the founder of Ant. The suspension comes just days after Mae spoke out against the Chinese Communist Party’s stance on handling the economy.

As the fall continues, investors are looking at what the ant’s fate means for international industries in China’s authoritarian landscape. Here’s what you need to know.

Also, this is a shame, but what exactly is an ant group?

Ant is the financial arm of e-commerce giant Alibaba and was launched in 2004 as a payment processing site. The Antony Elip app now has more than 730 million monthly users in China who use it to pay bills, make purchases and send money to friends. Ant’s services include insurance, loan and asset management.

So is it a financial services company?

That’s part of the discussion. Mae argues that ants are more of a “techfin” than a “fintech” outfit. The company has recently changed its name from Ant Anti Financial to Ant Group.

Techfin, Fintech – Coming Again?

Ant claims it is a technology company that works with financial institutions, which means it will enjoy fewer rules and more freedom under Chinese law.

But China’s financial regulators say the business model of connecting antenna lenders and borrowers falls squarely under their supervision. And from the same place Ant’s IPO train started coming.

So what happened

Ant was initially moving towards its November 5 IPO and was attracting a lot of investors in the process – it had orders 3 trillion in orders to make its double listing in Hong Kong and Shanghai. Antony’s IPO was also expected to be a 29 29 billion IPO to sell the world’s largest public share to Saudi Arabian oil giant Aramco. But then Ma, a 56-year-old English teacher, was called to the principal’s office.

Oh. Why

During a speech at the Bund Conference in Shanghai on October 24, Ma opined That world “only focuses on risk control, not development, and rarely does they consider opportunities for young people and developing countries.”

Mae expressed that financial regulators seem to be a kind of club for the elderly, wanting it to play very safe, which is not good for “young” economics like in China.

It doesn’t look so bad.

My remarks came just hours after the conference’s keynote speaker, Chinese Vice President Wang Kishan, Note more cautiously, Saying that China will “stay away from the wrong paths of excessive speculation, self-reinforcing cycles of financial bubbles and Ponzi schemes.”

Mane was summoned to Beijing on November 2 for a meeting with government officials. The next day, the ant list was pulled from the Shanghai Stock Exchange.

Uch ch. What was the official reason?

Chinese regulators called the company’s leadership for “supervisory interviews by relevant departments,” the Shanghai Stock Exchange said in a statement announcing Antenna’s IPO suspension, “also mentioned changes in the financial technical regulatory environment and other key issues.”

What did the whole thing cost?

Mano’s stake in Antibaba Group Holdings, which owns a large stake in Ant, fell nearly 3bn after postponing the IPO, Bloomberg reported. The company is now preparing to implement the Beijing meeting guidelines so that it can return from there.

But, China Banking and Insurance Regulatory Commission will also impose new rules on Antenna’s credit platform, Bloomberg reported, citing sources familiar with the matter, which means the mother’s headache is not gone.

Well, so for now, the ants move on. But is there a permanent result?

Maybe. The Chinese government seems to be giving a clear signal that no private company will be afraid to enter and cancel a party when it does not follow its rules. And it may frighten investors who are eager to enter the world’s second-largest economy – but not eager to draw the Communist Party line.