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Deepti Sri · · 1 min readWarburg slashes Ant’s valuation by 15% to under $200b
“Warburg Pincus, a major global investor in Ant Group, has cut its valuation of the Chinese fintech company by 15% to below US$200 billion due to risks from a restructuring at the Hangzhou-based firm,” reported Reuters, citing a source with knowledge of the matter.
Details:
- Warburg reportedly slashed Ant Group’s valuation to US$191 billion at the end of September, from the US$224 billion valuation the New-York based firm had given the Alibaba-backed fintech company at the end of June.
- Because of skepticism surrouding Ant’s valuation, investors do not expect the fintech giant to revive its bid for an IPO by the end of 2022.
Dive deeper:
- Ant has recently faced scrutiny from Chinese regulators over allegedly monopolistic practices. The company had agreed earlier this year to a restructuring plan that would turn Ant into a financial holding company.
- Last year, the Shanghai Exchange suspended Ant’s listing less than 48 hours before it was slated to go public, saying the company had failed to meet listing qualifications.
Editing by Collin Furtado and Arpit Nayak
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