Due to the worry that ant group will freeze too much capital during its IPO in Hong Kong, the HKMA has negotiated with the receiving bank on countermeasures

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On October 20, according to Tencent News, the Hong Kong Monetary Authority (HKMA) has coordinated and communicated with the major receiving banks responsible for ant group’s IPO in Hong Kong to find a solution, because it is worried that excessive freezing of capital during the IPO of ant group will affect the liquidity of the Hong Kong market. According to people familiar with the matter, the Hong Kong Monetary Authority and others expect ant group to freeze assets in Hong Kong to reach several trillion Hong Kong dollars. This is the first time that the Hong Kong Monetary Authority has held a similar meeting on the freezing of assets during the IPO period in Hong Kong. The HKMA said it would not comment on the incident, but that “the HKMA has been keeping a close eye on market conditions to ensure the effective operation of the Hong Kong money market.”
In response to the news, ant said it would not comment.