Bloomberg Television
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Ant Plans Buyback at 70% Lower Valuation Than at IPO
Posted
July 9, 2023
Views
5,915
Likes
50
Comments
6
Engagement
0.95%
July 9, 2023
5,915
50
6
0.95%
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2:22Now PlayingAnt Group Co. is proposing to buy back as much as 7.6% of shares in an effort to retain talent and provide a chance to cut stakes for investors. This comes after the People’s Bank of China's announcement on Friday that financial regulators fined Ant 7.12 billion yuan ($984 million), wrapping up more than two years of probes into the finance technology firm founded by billionaire Jack Ma. Annabelle Droulers reports on Bloomberg Television.
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