BlackRock Inc. lowered the value to US$151 billion as of March from US$174 billion, while T. Rowe Price Group Inc. trimmed it to US$112 billion as of May, compared with US$189 billion last year.
Fintech giant Ant Group Co.’s valuation was trimmed again by global investors who bought private shares ahead of its suspended initial public offering.
Boston-based Fidelity Investments cut its estimate for Ant to US$70 billion ($96.30 billion) at the end of May, according to Bloomberg calculations based on filings. That’s down from US$78 billion in June last year, and US$235 billion just before Ant’s IPO was torpedoed by regulators in November 2020.
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