HONG KONG : Didi Global said on Friday it will delist from the New York stock exchange and pursue a listing in Hong Kong, the latest development after it ran afoul of Chinese regulators by pushing ahead with its US$4.4 billion U.S. IPO in July.
June 30 - Didi raises US$4.4 billion in its IPO, pricing it at the top of its indicated range and increasing the number of shares sold, giving it a valuation of US$73 billion on a fully diluted basis and US$67.5 billion on a non-diluted basis.July 2 - The Cyberspace Administration of China says it has launched an investigation into Didi to protect national security and the public interest, and that Didi was not allowed to register new users during the probe, sending Didi shares lower.
July 5-6 - Didi says it was unaware before its IPO that the CAC would launch a cybersecurity investigation or order a halt in China to new user registrations and a suspension of app downloads. Aug 10 - SoftBank says it will pause its investing in China as it waits for regulatory action against the country's tech firms to play out.
Sept 7 - Beijing city government told Reuters in a faxed statement it was not advising companies to invest in Didi. Sept 30 - China published new draft measures aimed at bolstering its new data security law, including definitions of what it considered"core" and"important" data.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Didi Global to start work on delisting from New York, to pursue listing in Hong KongSHANGHAI: Chinese ride-hailing giant Didi Global will delist from the New York stock exchange and pursue a listing in Hong Kong, it said on Friday (Dec 3), after it ran afoul of Chinese regulators by pushing ahead with its US$4.4 billion US initial public offering in July. The company made the announcement Is this the trend moving forward for the rest of the 'Chinese' companies that are listed in NYSE ? Ultimately all these Chinese companies are beholden to CCP. Yet some ppl inexplicably keep singing praises of these companies 🤷🏽♀️
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Global stocks rally set to moderate next year, correction likely - Reuters pollBENGALURU : Global stocks will shake off recent weakness and rise over the next 12 months but at a more tempered pace than this year's rally, found a Reuters poll of equity analysts who also said a correction was likely in the next six months.Uncertainty around the virulence of the Omicron coronavirus var
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Didi Global to start work on delisting from New York, to pursue listing in Hong KongSHANGHAI: Chinese ride-hailing giant Didi Global will delist from the New York stock exchange and pursue a listing in Hong Kong, it said on Friday (Dec 3), after it ran afoul of Chinese regulators by pushing ahead with its US$4.4 billion US initial public offering in July. The company made the announcement Is this the trend moving forward for the rest of the 'Chinese' companies that are listed in NYSE ? Ultimately all these Chinese companies are beholden to CCP. Yet some ppl inexplicably keep singing praises of these companies 🤷🏽♀️
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Southeast Asia's Grab takes a ride to US$40 billion SPAC listingSINGAPORE : Southeast Asian ride-hailing and food delivery platform Grab Holdings lists https://www.reuters.com/markets/us/singapore-ride-hailing-firm-grabs-nasdaq-debut-set-tone-regional-listings-2021-12-01 on Nasdaq via the world's largest special purpose acquisition company (SPAC) deal worth US$40 billion.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »