Fidelity, BlackRock trim Ant’s valuation further: Report

Fidelity, BlackRock trim Ant’s valuation further: Report

Ant Group's Hangzhou Headquarters. Source: Ant Group

Ant Group’s valuation has been trimmed by global investors including BlackRock Inc and Fidelity Investments, which bought private shares ahead of the Chinese fintech giant’s scuppered initial public offering, Bloomberg reported on Tuesday.

Fidelity Investments cut its estimate for Ant to $70 billion at the end of May, down from $78 billion in June last year, and $235 billion just before Ant’s $37-billion IPO was suspended by regulators in November 2020, according to Bloomberg calculations based on filings.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter