Alibaba Group Holding Ltd.’s U.S.-traded shares tumbled as much as 9.7% Tuesday after Ant Group Co., the finance affiliate also founded by Jack Ma, said its listings in both Shanghai and Hong Kong have been suspended.
Ant’s listing in Shanghai was halted amid changes in the regulatory environment, according to a statement, which didn’t provide further details. With the initial public offering in Hong Kong also on hold, Ant’s $35 billion share sale is in limbo.
