“After careful study, the company will start delisting on the New York Stock Exchange immediately, and start preparations for listing in Hong Kong,” Didi said in a post on its Weibo account.
The move is a major reversal for Didi, which raised $4.4 billion in a massive IPO in June. Didi’s American depository shares DIDI, -0.13% were little changed Thursday, but have sunk 45% since the IPO. Chinese regulators have been moving to restrict offshore IPOs of Chinese companies, especially ones holding vast amounts of customer data. Last week, Bloomberg News reported Chinese regulators asked Didi to delist from the NYSE, over concerns the company could leak sensitive data.
U.S. regulators have also been cracking down on Chinese companies that don’t comply with U.S. auditing rules. Meanwhile, Alibaba’s Hong Kong-traded shares 9988, -4.24% hit an all-time low Thursday amid worries that it may be forced to delist from the NYSE. Its U.S.-listed shares BABA, -0.40% slipped 0.4% Thursday.
These are some of the risks associated with investing in China equities. U.S. regulators have also been cracking down on Chinese companies that don’t comply with U.S. auditing rules.
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Didi to delist from NYSE and move to Hong Hong Stock ExchangeInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know. 100x on KingFlokiToken For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to him Arnoldnike93 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success⚖️ 中国骑着冰雹巨人滴滴从纽约证券交易所退市并迁往香港证券交易所
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Didi to delist from NYSE and move to Hong Hong Stock ExchangeInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know. 100x on KingFlokiToken For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to him Arnoldnike93 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success⚖️ 中国骑着冰雹巨人滴滴从纽约证券交易所退市并迁往香港证券交易所
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
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