Caixin
Aug 17, 2022 03:49 AM
TECH

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

Ant has been restructuring its operations to meet a list of demands from Chinese regulators over the past year.
Ant has been restructuring its operations to meet a list of demands from Chinese regulators over the past year.

(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.

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