Carlyle, GIC opt out of Ant Group’s proposed share buyback, Bloomberg reports

Many investors, including Warburg Pincus and Canada Pension Plan Investment Board, are opting out of Ant Group’s proposed share buyback after the company’s valuation was cut by more than 70%, Cathy Chan, Lulu Yilun Chen, David Ramli of Bloomberg report, citing people familiar with the matter. Carlyle Group (CG) and GIC Pte are among the top foreign shareholders not participating in the buyback, sources told Bloomberg. Meanwhile, a few money managers, such as Fidelity Investments (FIS) and T. Rowe Price (TROW), have agreed to sell their shares, one source said. https://www.bloomberg.com/news/articles/2023-08-08/carlyle-gic-skip-ant-s-buyback-after-valuation-slumps-70?sref=8QBk7toa