(Bloomberg) — Jack Ma’s Ant Group has a narrow window to make its much-anticipated market debut ahead of U.S. election turbulence. Now its bankers must grapple with any potential delays stemming from a debate in Washington over restrictions on the payments behemoth.
Discussions over how and whether to restrict Ant — as well as Tencent Holdings Ltd.’s payments systems — have accelerated among senior U.S. officials in recent weeks though a decision isn’t imminent, Bloomberg reported.
They come as Ant is expected to raise about $35 billion from simultaneous initial public offerings in Shanghai and Hong Kong as early as this month. China’s biggest payments company already has approval for its mainland listing, but is waiting for a hearing with the Hong Kong stock exchange. That green light would need to come roughly by the middle of October if Ant aims to beat the U.S. presidential vote on