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The buyback valuation is almost 70% lower than the $280B market cap Ant fetched in 2020 for its scrapped IPO.

(Bloomberg) -- Chinese regulators imposed more than $1 billion in fines on tech giants Ant Group Co. and Tencent Holdings Ltd., signalling an end to a crackdown on the sector that had wiped out billions in market value and derailed the world’s biggest initial public offering.Most Read from BloombergUkraine Has Caught Up With Russia’s Tank Numbers, Data SignalMeta’s Threads App Draws Millions Seeking a Twitter AlternativeStocks Stumble as Traders Turn to Payroll Data: Markets WrapMusk Ultimatum t

It paves the way for Ant to revive growth and eventually resurrect plans for an IPO.

(Bloomberg) -- China imposed more than $1 billion in fines on tech giants Ant Group Co. and Tencent Holdings Ltd., signalling an end to a crackdown on the sector that had wiped out billions in market value and derailed the world’s biggest initial public offering.Most Read from BloombergUkraine Has Caught Up With Russia’s Tank Numbers, Data SignalApple Plans a Slow, Appointment-Only Rollout of Its $3,500 Vision ProRussia Is Disregarding IAEA Advice to Power Down Ukraine ReactorMusk Ultimatum to T

Tthe 14th Annual Meeting of the New Champions will convene in Tianjin, China, from 27-29 June. The gathering comes amid an urgent need for global collaboration.