Share Prices & Company Research

Market News

20 Jan 2021 | 11:11

Alibaba shares rebound as founder resurfaces after three months

(Sharecast News) - Alibaba's founder Jack Ma resurfaced after a three month hiatus from public appearances, speaking to 100 rural teachers through a video call, which sent stock in his company more than 8% higher on Wednesday on the Hong Kong stock exchange. It was unclear where Ma had been for the past months since his last public appearance in October after media reported in December that he had skipped the recording of a TV program which he himself had created.

His e-commerce giant Alibaba and fintech outfit Ant Group have come under pressure from the Chinese authorities in recent months over alleged monopolistic practices.

In his last appearance, Ma had publicly criticised the Chinese financial regulatory system.

According to TechCrunch, those comments might be why Chinese regulators unexpectedly halted Ant's initial public offering, which would have been the biggest public share sale of all time.

Ant has since been working on a corporate restructuring plan and regulatory compliance under the directions of Beijing.
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 30th April 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.