SHANGHAI: 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 , after it ran afoul of Chinese regulators by pushing ahead with its US$4.4 billion US initial public offering in July."Following careful research, the company will immediately start delisting on the New York stock exchange and start preparations for listing in Hong Kong," it said.
Reuters reported last week citing sources that Chinese regulators had pressed Didi's top executives to devise a plan to delist from the New York Stock Exchange due to concerns about data security. The company pressed ahead with its New York listing despite a regulator urging it to put it on hold while a cybersecurity review of its data practices was conducted, sources have told Reuters.
Didi is also preparing to relaunch its apps in the country by the end of the year in anticipation that Beijing's cybersecurity investigation into the company would be wrapped up by then, Reuters reported earlier this month.
Ultimately all these Chinese companies are beholden to CCP. Yet some ppl inexplicably keep singing praises of these companies 🤷🏽♀️
Is this the trend moving forward for the rest of the 'Chinese' companies that are listed in NYSE ?
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:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
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 »
WTA 'coercing' Peng Shuai with China tournament suspension, says Global Times editorSHANGHAI: The editor of China\u0027s Global Times newspaper accused the Women\u0027s Tennis Association (WTA) of \u0022coercing\u0022 star player Peng Shuai to \u0022support the West\u0027s attack\u0022 on China by suspending tournaments in the country until it was assured of her well-being. Known for his combative tweets, Hu Xijin has
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Hong Kong to launch mobile 'health code' app ahead of China border openingHONG KONG — Hong Kong authorities will launch a new 'Big Brother Is Watching You!' HongKong is in 1984 now. OneCountryTwoSystemIsDead No more freedom, human rights and democracy in HK. The CCP and the puppet HongKong government are using the virus to control all HongKongers. StandWithHongKong. Save12hkyouths Such tracking app paves the way for CCP to continue its progressive human rights abuses in Hong Kong, like what happened in Xinjiang The COVID19 measures im China n HongKong aim at controlling ppl's lives n have nth to do w/ science! FreeHongKong StandWithHongKong BoycottBeijingOlympics
Source: TODAYonline - 🏆 1. / 99 Read more »
Hong Kong COVID-19 quarantine pushes Cathay pilots to 'breaking point'HONG KONG: Cathay Pacific has been hit by a wave of pilot resignations in recent weeks as resentment over Hong Kong\u0027s strict quarantine regime boils over and crew scramble for emerging opportunities overseas. The departures come as Hong Kong ties itself to Beijing\u0027s closed-border zero-COVID strategy - a mo 香港國泰航空公司只能做大陸內地的生意了 The COVID19 measures im China n HongKong aim at controlling ppl's lives n have nth to do w/ science! FreeHongKong StandWithHongKong BoycottBeijingOlympics
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Hong Kong quarantine pushes Cathay pilots to 'breaking point'HONG KONG — Cathay Pacific has been hit by a wave of pilot resignations in recent weeks as resentment over Hong Kong's strict quarantine regime boils over and crew scramble for emerging opportunities overseas.
Source: TODAYonline - 🏆 1. / 99 Read more »
Shuttered Hong Kong democracy paper wins press freedom awardJailed Hong Kong media tycoon Jimmy Lai and the staff of his now-shuttered Apple Daily newspaper have been awarded a prestigious press freedom prize by the World Association of News Publishers. Politicized move!
Source: YahooSG - 🏆 3. / 71 Read more »