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Global investors indicated they may be losing faith in Ant Group as the fintech giant’s valuation was again trimmed by those who bought private shares prior to the company’s planned, and now suspended, initial public offering. So reports Bloomberg.
To that end, Fidelity Investments cut its estimate to $70 billion, which is down from $78 billion in June and a whopping $235 billion before its IPO was nixed by regulators in the fall of 2020. BlackRock lowered its valuation as well as T. Rowe Price Group.