 "Jack Ma")
They were just days away from a multi-billion-dollar windfall.
But now employees of Jack Ma’s Ant Group Co. are stuck holding shares so difficult to value that even the company itself is struggling to determine a fair price. It has shelved a share buyback program for current and departing staff, in part because of uncertainty over how to value the company, according to Ant executive familiar with the matter.
The move underscores two intertwined challenges facing Ant, four months after Chinese authorities torpedoed its $35 billion initial public offering: The fintech giant’s future is still shrouded in doubt
But now employees of Jack Ma’s Ant Group Co. are stuck holding shares so difficult to value that even the company itself is struggling to determine a fair price. It has shelved a share buyback program for current and departing staff, in part because of uncertainty over how to value the company, according to Ant executive familiar with the matter.
The move underscores two intertwined challenges facing Ant, four months after Chinese authorities torpedoed its $35 billion initial public offering: The fintech giant’s future is still shrouded in doubt
