Didi Plan to Delist in New York Rocks Other Chinese ADRs

Didi Global ran into trouble with Beijing almost immediately after its $4.4 billion New York initial public offering

Retail/Wholesale, Etailing

12/3/2021 9:45:00 PM

Didi Global ran into trouble with Beijing almost immediately after its $4.4 billion New York initial public offering

The Chinese ride-hailing giant is aiming for a Hong Kong listing in early 2022, further evidence of a broader U.S.-China decoupling.

Updated Dec. 3, 2021 11:19 am ETDidi Global Inc.’s decision to spurn New York for a listing closer to home contributed to a cascade of stock declines for U.S.-traded Chinese firms.The Chinese ride-hailing giant’s decision to delist its American depositary shares from the New York Stock Exchange and pursue a listing in Hong Kong marked a new stage in the decoupling of Chinese companies from U.S. markets. It followed a tumultuous five months, after Didi’s initial public offering in late June drew Beijing’s ire.

Read more: The Wall Street Journal »

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Cowed by Chinese regulators, Didi plans New York delisting and Hong Kong debutJust five months after its debut, ride-hailing giant Didi Global said it plans to withdraw from the New York stock exchange and pursue a Hong Kong listing - a stunning volte-face as it bends to Chinese regulators angered by its U.S. IPO.

China’s Didi To Delist From New York Following Pressure From BeijingThe ride hailing-giant said that it plans to pursue a public listing in Hong Kong in the future. Well then! good car

Didi Global Plans to Delist From New York Stock ExchangeDidi Global plans to delist its shares in the U.S. and pursue a listing in Hong Kong, a dramatic reversal just months after the Chinese ride-hailing group’s ill-fated initial public offering in New York. Learned the lesson hard way, NEVER invest in Chinese companies..f Xi So, do I lose my money? I bought this damn thing early, since the IPO $16. Where’s my money? ..but ,China is the enemy.

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U.S.-listed Chinese shares take a knock as Didi to exit NYSEU.S.-listed shares of Alibaba, Baidu, JD.com and other Chinese firms fell on Friday as ride-hailing giant Didi Global Inc's decision to delist from the New York Stock Exchange added to worries over stricter regulatory scrutiny at home and tense Sino-U.S. relations.