- A sudden, severe reduction in the intrinsic value of Ant’s business rendered the offering non-viable.
- The de-valuation was not the result of a traditional business set-back.
- It arose from a regulatory change that effectively re-categorized the company as a Bank.
What happened to Ant this month is looking more like an amputation says George Calhoun in an article published in Forbes.
What is Ant Group?In June of this year, the company then known as Ant Financial Services changed its name, and...