January 09, 2023 9:29 AMThe billionaire ceding control could prolong Ant’s listing timeline. : HONG KONG – More than two years ago, Chinese regulators torpedoed Ant Group’s would-be record US$34.5 billion (S$46 billion) initial public offering (IPO), sending shock waves across global capital markets. New rules have been slapped on the fintech giant, which has operations ranging from consumer lending and wealth management to online payments. The result is that the once-fertile landscape for Web-based financial services has drastically changed as part of a government effort to bring the entire technology sector to heel.