Ant’s Valuation Slashed by Fidelity, Blackrock and T. Rowe Price

(Bloomberg) — Fintech giant Ant Group Co.’s valuation was trimmed again by global investors that bought private shares in advance of its suspended initial public offering two years ago.

Boston-based Fidelity Investments cut its estimate for Ant to $70 billion at the end of May, according to Bloomberg calculations based on filings. That’s down from $78 billion in June last year and $235 billion just before Ant’s IPO was torpedoed by regulators in November 2020.