Analysis: Fidelity cut its estimate for Ant Group’s valuation to $70B at the end of May, down from $78B in June 2021 and $235B before Ant’s failed IPO in 2020 (Lulu Yilun Chen/Bloomberg)

Lulu Yilun Chen / Bloomberg:
Analysis: Fidelity cut its estimate for Ant Group’s valuation to $70B at the end of May, down from $78B in June 2021 and $235B before Ant’s failed IPO in 2020  —  Fintech giant Ant Group Co.’s valuation was trimmed again by global investors who bought private shares ahead of its suspended initial public offering.