Tag: ANT
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Fidelity, BlackRock Cut The Valuation Of FinTech Giant Ant!
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Fintech giant Ant Group Co.’s valuation has been lowered again by global investors who bought private shares ahead of its suspended initial public offering. According to Bloomberg, Fidelity Investments lowered its estimate for Ant to $70 billion in late May. That’s down from $78 billion last June, and $235 billion…
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China Approves Plan For ‘Healthy’ FinTech Sector Development!
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Chinese President Xi Jinping chaired a conference this week that approved publicizing the “healthy” development of the payment and fintech sectors. The meeting of the central commission for deepening overall reform also backed improving regulation of significant payment platforms, adding that companies would be encouraged to return to their roots…
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False Rumours About China’s Fintech Giant Ant Group’s Revived IPO Plans!
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In 2020, banking regulators had halted plans for an initial public offering of Alibaba’s payment subsidiary, Ant Group. Alibaba and its founder Jack Ma had fallen out of favor with Chinese regulators. Recently, rumors about revived IPO plans spread. However, Ant Group denied such plans and the shares of Alibaba…