Alibaba Rally Fizzles as Regulators Squelch Report of Ant IPO Revival

China’s top securities regulator said it is not working on a revival of Ant Group’s listing plan, denying a news report that spurred a surge in stockholder Alibaba Group Holding Ltd.’s shares.

The China Securities Regulatory Commission (CSRC) is not conducting a review and research work on an initial public offering for Ant, the commission said Thursday in a statement. The CSRC said it supports qualified platform companies to sell shares at home and abroad.