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.
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