- Ascential delayed the launch of Money20/20 China that was set for early December, in the wake of a short-term hiatus for international companies in the Chinese fintech market.

Pressure on international companies came from a combination of macro-economic trends and changes in local market dynamics including significant changes in the peer-to-peer lending sector, an importance source of revenue in 2018, the company said.

The launch was previously planned for 4-6 December 2019. 'The previous edition of Money20/20 China in 2018 generated £2.5m of revenue and in 2019, the one-off costs relating to Money20/20 China are not expected to impact Adjusted EBITDA by more than £1.5m,' the company said.

At 8:53am: [LON:ASCL] Ascential Plc share price was -25.6p at 338p

Story provided by