Global investors who bought private shares ahead of its suspended initial public offering ,including Boston-based Fidelity Investments, cut its estimate for Ant to $70 billion at the end of May. 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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Fidelity and BlackRock cut fintech giant Ant’s valuation lower
The Hangzhou-based firm has been restructuring its operations to meet a list of demands from Chinese regulators over the past year, including beefing up capital, curbing consumer lending, and shuffling its management.
