Drew Bernstein, Co-Chairman, MBP was quoted on Bloomberg TV regarding Ant Group IPO’s freeze, and what it means for investors.
“China has made a tremendous amount of progress in moving towards a disclosure-based IPO system and allowing a free hand for market forces and how new issues are priced in trade. Even before Ant IPO, Shanghai was leading the world in new issues for 2020. China accounted for 45 percent of the global IP market in the first three quarters. This deal represents the next phase of China’s economic growth.”