Ant Group valuation said cut by 15% by major investor Warburg Pincus
Fintech Ant Group's $Alibaba(BABA.US$ valuation is said to have been cut by 15% to below $200B by major investor Warburg Pincus.
Private equity firm Warburg Pincus, who was a large investor in Ant's 2018 fundraising, cut the company's valuation to $191B at end of September from $224B at the end of June, according to a Reuters report, which cited sources. The report also said there are signs that Ant's planned IPO won't be happening anytime soon.
Warburg changed its valuation methodology for the fintech giant, citing “regulatory developments and the impact of ongoing restructuring," according to Reuters.
Ant Group was ordered by Chinese regulators to restructure into a financial holding company, and Alibaba, which holds Ant Group stake, had to pay a record $2.75B antitrust fine in April.
Last year, Ant was valued at $315B ahead of its blockbuster IPO dual listing, which regulators pulled at the last minute in November. In May, Fidelity cut Ant Group's valuation to $144B implied valuation from its $300B heights.
Separately, the WSJ reported earlier that Ant has set up a new consumer finance company and has folded its credit business into the new entity as part of Ant's restructuring efforts aimed at appeasing Chinese authorities.
Ant Group director Fred Hu told Nikkei in July that he expected that the company will be able to resume its suspended IPO "before too long."
Earlier this week, Alibaba, Baidu among decliners in wake of Chinese government fines.
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Teddy Willson : did i hear it wrong? should be 51% cut
James Browny Teddy Willson: the cheering does go into the valuation
Stitch-fu : IPO spring 2022.....
Z9Gwqc14JU : Buy pypl
ouySFiuuNu Z9Gwqc14JU: paypal needs to decline even more to make it attractive
IWsnAFZDHM :
are bored of this never ending story
qPg7PBSdvS : Enough about the ant IPO already. It's not happebing.
BfqseGOSuE qPg7PBSdvS: Place your bet...short..baba
uploading : 2022 year end IPO, lets go!
Babyonemoretime : It’s not worth even $100b given Pooh Bear.
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