Ant Group's surprise share buyback values firm at steep 75% discount to IPO

Ant Group's surprise share buyback values firm at steep 75% discount to IPO

FILE PHOTO: Ant Group sign is seen at the World Artificial Intelligence Conference (WAIC) in Shanghai, China July 6, 2023. REUTERS/Aly Song/File Photo

Ant Group on Saturday announced a surprise share buyback that values the fintech giant at $78.54 billion, well below the $315 billion touted in an abandoned IPO in 2020, in a move that may let some investors exit after a lengthy regulatory overhaul of the firm.

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