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Commentary

What Happens When IPOs Are Canceled

Ant Group and WeWork are recent high-profile examples of floats that didn't make it over the line. Should investors be worried if a company changes its mind?

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A record-breaking float in the middle of the global coronavirus pandemic might seem at odds with economic reality, but it did underline how much quicker Asia-Pacific has recovered from the crisis. The decision by Ant Group to float in China rather than New York was seen as a litmus test of increasing confidence in local capital markets. China has been one of the best-performing stock markets this year, so it’s not surprising to see some investor exuberance in the region.

James Gard does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.