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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.

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