HANGZHOU, CHINA – OCTOBER 27: A logo of Ant Group is seen at the company’s headquarters on October 27, 2020 in Hangzhou, Zhejiang Province of China.
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Ant Group on Saturday announced a share repurchase plan that values the fintech giant at 567.1 billion yuan ($78.54 billion), as the management seeks to replenish its staff incentive pool and let some investors exit after regulators fined the firm.
It marked a sharp fall in the $300 billion-plus value ascribed to the company in mid-2020, before its IPO planned for later that year was pulled.
Ant said it had proposed to all of its shareholders to repurchase up to 7.6% of its equity interest at a price that represents a group valuation of app…
Read the full article at: https://www.cnbc.com/2023/07/08/ant-groups-share-repurchase-plan-values-firm-at-nearly-79-billion.html