16 Jan 2022 - 05:10:08
470 Posts

Didi Chuxing, a ChineseSLOTXOride-hailing app Backward, the Beijing government squeezed withdraw from the US stock market Prepare to list on the Hong Kong Stock Exchange instead.

December 3, 2021, 'Didi Chuxing' (Didi Chuxing), a Chinese ride-hailing service application. Announced through the Weibo website It's official that The company is delisting on the New York Stock Exchange. After only six months of trading and preparing to enter the IPO process on the Hong Kong Stock Exchange instead, he said the decision was made after careful consideration.

Titi Global was listed on the New York Stock Exchange in June. It could raise up to $4.4 billion. until July Only a few days after trading in the US market. China Cyberspace Administration (CAC) has issued a call for a withdrawal from the New York Stock Exchange. which is a request that has never appeared before

The Chinese agency cited concerns about the security and potential leaks of user data, in particular. "National security and public interest", the Chinese government's demands, also covered hits. Listed on the Hong Kong Stock Exchange After withdrawing from the US stock market

During the hit of trading on the US stock market, Chinese authorities also ordered the removal of the hit application. Leaving the local download platform As a result, new users cannot download such apps, directly affecting the company's revenue. At present, Softbank Japan is the largest shareholder in Hit Hit with more than 20 percent, followed by Chinese tech giants Alibaba and Tencent.

Didi has emerged as another tech company pressured by the Beijing government to pull out of the stock market and major fundraising efforts. This was earlier in the case of Ant Group, a major financial innovation service provider under Jack Ma's Alibaba subsidiary, which was previously subject to the Chinese regulatory commission. Banning IPOs Just a few weeks before Ant Group There are plans to enter the Shanghai and Hong Kong stock markets.

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