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Alibaba shares drop after China regulator quashes talk of Ant IPO revival | The Straits Times

News Snapshot:

SEOUL (BLOOMBERG) – Alibaba Group Holding's US-listed shares slipped after China's regulator denied a Bloomberg News report that it has started early stage discussions on reviving the initial public offering (IPO) of Jack Ma's Ant Group. Shares of the e-commerce giant dropped 8.1 per cent on Thursday (June 9), after shooting up around 7 per cent in premarket trading on the Bloomberg report. The stock quickly erased earlier gains after the China Securities Regulatory Commission said it isn't conducting work on reviving the Ant IPO, although it supports eligible internet platform companies to list in China and overseas. Meanwhile, Ant…

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