There are a number of us on this board who will not invest in Chinese companies. There are many regulatory issues that are opaque and many behind-the-scenes political connections that must be maintained to be successful. It is impossible for us to know what they all are.
Alibaba is owned by Jack Ma and was set to be the largest IPO the world have ever seen. That was until some in the government thought he was getting a little big for his britches.
From the article:
**Hong Kong (CNN Business)**Beijing just showed tech titan Jack Ma and the rest of China’s billionaire tycoons who’s really in charge.
Chinese regulators stunned financial markets on Tuesday when they slammed the brakes on Ant Group’s highly anticipated initial public offering just days before its shares were scheduled to start trading in Shanghai and Hong Kong. Ma’s financial tech firm was set to raise $37 billion and become the biggest share sale in history.
The Shanghai Stock Exchange said in a late night statement that it had postponed the Ant Group IPO because of “major issues” that might cause the company “not to meet the listing conditions or disclosure requirements.” That came after the Chinese central bank and other Chinese government officials called in Ma and Ant Group executives for talks Monday.