Home » Business » Ant Group’s Listing Unlikely in Short Term, Suffers Sharp Market Value Decline

Ant Group’s Listing Unlikely in Short Term, Suffers Sharp Market Value Decline

State media in China quoted sources close to regulators as saying that the listing of Jack Ma-backed Ant Group on the stock exchange is unlikely in the short term.

Earlier this month, Ant Group announced a surprise share buyback that valued the fintech giant at $78.54 billion, far less than the $315 billion it tried to market in its pending initial public offering.

The value of the Ant group is estimated at $78.5 billion, which means that it has suffered a sharp deterioration in its market value, amounting to 75%, compared to $315 billion, which was its market value in the initial public offering that the group conducted for its shares before the Beijing regulatory campaign that launched in 2018. 2020.

2023-07-29 22:04:12
#Chinese #media #inclusion #Ant #short #term

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