A series of shocks!
BEIJING: Alibaba, led by Chinese tycoon Jack Ma, is facing a series of shocks. The Chinese authorities have been conspiring with Jack and us over his financial empire for the past few days. An investigation was also ordered under the terms of the monopoly.
Ant Group has recently launched an investigation into its affiliates. Ant Group said check for the largest IPO, citing various reasons. In addition, Jack Ma’s comments on Chinese banks also had an impact on Alibaba. Ant షి Financial అంశం IPO item Alibaba melts wealth.
Chinese authorities have suspended an anti-financial $ 10 billion IPO for a variety of reasons. As a result, the company lost much of its value during this period. Alibaba has wiped out $ 116 billion in two consecutive trading sessions. About 8.5 lakh crores in our currency.
Authorities say they will conduct an antitrust investigation into the Alibaba subsidiary. As a result, Alibaba’s stock fell nearly fifteen percent on the New York Stock Exchange. Investors are inclined to sell the shares for fear of being fined after the investigation.
The investigation has dealt a severe blow to Alibaba.
The company has proposed to buy its own equity shares for $ 10 billion. The Alibaba board has decided to increase the buyback from the first $ 6 billion to $ 10 billion later. The buyback will take place until 2022.
Counter sales, however, continued as regulatory agencies tended to investigate Alibaba’s dominance. In the past, Jack’s comments on banks have caused controversy. Even then the shares fell.
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