廣告
香港股市 將在 9 小時 19 分鐘 開市

  • 恒指

    17,284.54
    +83.27 (+0.48%)
     

  • 國指

    6,120.37
    +20.15 (+0.33%)
     

  • 上證綜指

    3,052.90
    +8.08 (+0.27%)
     

  • 道指

    37,886.49
    -574.43 (-1.49%)
     

  • 標普 500

    5,016.23
    -55.40 (-1.09%)
     

  • 納指

    15,472.30
    -240.45 (-1.53%)
     

  • Vix指數

    16.69
    +0.72 (+4.51%)
     

  • 富時100

    8,078.86
    +38.48 (+0.48%)
     

  • 紐約期油

    82.52
    -0.29 (-0.35%)
     

  • 金價

    2,341.10
    +2.70 (+0.12%)
     

  • 美元

    7.8280
    -0.0029 (-0.04%)
     

  • 人民幣

    0.9241
    -0.0006 (-0.06%)
     

  • 日圓

    0.0501
    -0.0001 (-0.22%)
     

  • 歐元

    8.3906
    +0.0149 (+0.18%)
     

  • Bitcoin

    64,144.40
    -699.43 (-1.08%)
     

  • CMC Crypto 200

    1,387.46
    +4.89 (+0.35%)
     

Fidelity Slashes Ant Group Valuation, Posing A Bummer For Alibaba

Anusuya Lahiri
·2 分鐘文章

  • Fidelity Investments again slashed Alibaba Group Holding Limited's (NYSE: BABA) fintech affiliate Ant Group Co's valuation more than two years after China blocked the fintech giant's initial public offering plans.

  • Fidelity pared its estimate for Ant by about 9% to about $63.8 billion as of the end of November from the end of May, Bloomberg reports.

  • Ant was worth $235 billion just before China suspended Ant's IPO in November 2020.

  • China quashed Ant's $34 billion-plus IPO in 2020 at the last moment, forcing the technology firm to restructure as a financial holding company regulated by China's central bank.

  • Ant revamped its business to comply with the government directive while awaiting a green light to apply for a financial holding company license.

  • Recently, China allowed Ant's consumer lending affiliate to increase capital, and founder Jack Ma agreed to cede control of Ant.

  • Ant promoted 20-year veteran Sophie Wu Minzhi to Chief People Officer, replacing Sam Zeng Songbai, starting from January 1.

  • Minzhi's career at Alibaba covered several business units before joining Ant in August 2021.

  • The promotion came after Chongqing Ant Consumer Finance won the permit to raise 10.5 billion yuan ($1.5 billion), the first approval since China foiled Ant's IPO. Ant can expand the capital base of Chongqing Ant to 18.5 billion yuan from the current 8 billion yuan.

  • However, Ant's profit fell 63% in the June quarter due to the government crackdown and China's economic slowdown.

  • Ant Chair Eric Jing shared the company's ambitions to go public, but there has been no update regarding the IPO.

  • Recently, China's top leadership renewed its pledge to support its platform economies and encourage their role in economic growth and job creation after a two-year crackdown on the platform economy.

  • Price Action: BABA shares traded lower by 0.95% at $119.43 premarket on the last check Friday.

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

This article originally appeared on Benzinga.com

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.