The central theses:

• There are reports that Chinese securities regulators are reviewing JD Technology’s IPO application and that the firm’s investment bankers have resumed work on the listing
• Meanwhile, Ant Group has taken a possible step toward a revived IPO after raising the registered capital of its consumer finance arm to 18.5 billion yuan from 8 billion yuan, with two state-owned companies among the new investors

By FaiPui

Two years ago, ant group was set for a $300 billion IPO before owner Jack Ma delivered a scathing speech about China’s financial system. In the ensuing storm, the listing was withdrawn and a full-scale regulatory crackdown targeted the parent company Alibaba Group BABA and other stars of the digital economy.

Among those urged to revise their business practices were JD Technologythe fintech arm of JD.com JDand WeChat Pay, owned by Tencent holdings (0700.HK).

But there are signs of a regulatory thaw that could unfreeze some of the fintech IPO plans.

according to a Reuters report, the International Business Division of the China Securities Regulatory Commission (CSRC) recently decided to reconsider JD Technology’s application to list on the Hong Kong Stock Exchange with input from other regulators. The company’s investment bank resumed work on the IPO in October, with the go-ahead expected by the end of this year. However, given the weak market conditions, the fundraising target may need to be scaled back from the previously reported $2 billion.

The brighter prospects for JD Technology have fueled speculation that the regulatory crackdown on the fintech sector has entered its final stages, potentially paving the way for Ant Group, which had sought listings in Hong Kong and Shanghai to start its way to an IPO to continue.

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