Ant’s surprise share buyback values firm at steep 75% discount to IPO

News Snapshot:

Open this photo in gallery: In this Friday, Oct. 23, 2020, photo, an employee walks past a logo of the Ant Group at their office in Hong Kong.Kin Cheung/The Associated Press Ant Group on Saturday announced a surprise share buyback that values the fintech giant at US$78.54 billion, well below the US$315 billion touted in an abandoned IPO in 2020, in a move that may let some investors exit after a lengthy regulatory overhaul of the firm. The news came one day after Ant was fined US$984 million, which should end a years-long regulatory shakeup of the company and mark...