In early November, Ant Group’s planned $37-billion blockbuster dual listing in Shanghai and Hong Kong was brought to a halt by financial regulators. In the same day, Chinese regulators also published draft rules to boost the oversight of online micro-lending.

China suspended Ant Group’s $37 billion listing on Tuesday, thwarting the world’s largest stock market debut with just days to go in a dramatic blow to the financial technology firm founded by billionaire Jack Ma.

Simpson Thacher & Bartlett and Fangda Partners are advising Chinese fintech firm Ant Group on its planned $30 billion initial public offering in Hong Kong and Shanghai, with Freshfields Bruckhaus Deringer and King & Wood Mallesons counselling the joint sponsors.