Jack Ma, resurfaces after 3 months without being seen

0

Alibaba founder Jack Ma was seen after three months without appearing in public. His disappearance, which generated many speculations, ended this Wednesday (20) with a participation in the virtual ceremony of the Rural Teacher Initiative. The event, which takes place annually in the tourist city of Sanya, is held by the Jack Ma Foundation to celebrate the activities of rural teachers who receive their financial support.

With the news of its reappearance, Alibaba’s Hong Kong-listed shares rose more than 8% after showing a downward trend. In late December, China’s supervisory bodies opened an investigation against the company for alleged monopoly practices – which affected its performance in the financial market.

Jack Ma loses China’s public offering

The investigation was announced a few weeks after China withdrew its initial public offering (IPO) of Ant Financial Services Group, Alibaba’s financial technology affiliate and owner of the country’s largest payment platform, Alipay. According to experts, the offer would reach US $ 34 billion.

In addition, the Chinese government also ordered the affiliate to reduce its operations at Alipay, on the grounds that its corporate governance “was not sound”. The new Chinese government rules were implemented after Jack Ma criticized the country’s financial regulatory system at a conference in Shanghai in October. Since then, the billionaire has stayed out of the spotlight, which has raised some concerns about his whereabouts.

LEAVE A REPLY

Please enter your comment!
Please enter your name here