Ant IPO has slim chance of getting done next year

The chances that Jack Ma’s Ant Group Co. will be able to revive its massive stock listing next year are looking increasingly slim as China overhauls rules governing the fintech industry, according to regulatory officials familiar with the matter.

Ant is still in the early stages of reviewing changes needed to appease regulators, who demand that its business comply with a slate of new and proposed guidelines in areas including lending to consumers, the officials said. With so much work needed and some rules not yet spelled out, the officials said the initial public offering may not get done before 2022.