(Reuters) -Didi Chuxing, China's biggest ride-hailing firm, on Thursday made public its filing for a U.S. stock market listing, setting the stage for what is expected to be the world's biggest initial public offering this year. At that valuation, Didi's stock market flotation would be the biggest Chinese share offering in the United States, since Alibaba raised $25 billion in its blockbuster IPO in 2014. In its filing on Thursday, Didi revealed slower revenue growth in 2020 due to the impact of the COVID-19 pandemic, which grounded the global ride-hailing industry to a halt as lockdowns were enforced all over the globe.
The US$1bil (RM4.1bil) will be the initial funding for Project AsiaForward, which aims to nurture 100, 000 developers and tech startups over the next three years, Alibaba said in a statement yesterday.
HONG KONG: Alibaba Group Holding Ltd’s cloud division has pledged US$1bil (RM4.1bil) to support startups in Asia, marking one of its largest outlays since the tech giant pledged to boost spending and move past a bruising antitrust investigation at home.
The US$1bil (RM4.1bil) will be the initial funding for Project AsiaForward, which aims to nurture 100, 000 developers and tech startups over the next three years, Alibaba said in a statement yesterday.
/PRNewswire/ Set to grow by $ 215.56 bn during 2020-2024, Technavio s latest market research report estimates the food delivery services market to register.
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By Elaine Yu China s tech crackdown is mostly affecting firms listed outside the country, helping to create a big performance gap between onshore and offshore Chinese stocks. In the three months to Tuesday, an iShares exchange-traded fund tracking an MSCI Inc. index of 490 onshore Chinese stocks, or A Shares, has gained 8.9%, according to FactSet. A similar vehicle that follows the broader MSCI China index is up just 0.2% over the same period. Over the last 12 months, the former has outperformed by 20 percentage points. The wider index includes some shares listed in Shanghai and Shenzhen, but is heavily tilted toward internet companies, most of which are listed in Hong Kong and the U.S.
China’s private education companies have for years been the darlings of investors from New York to Shanghai, building a $100 billion industry on the promise of the world’s largest and arguably most-competitive schooling system. Then suddenly they got caught up in the Chinese government’s sweeping efforts to rein in the country’s technology giants. The regulatory clampdown, ostensibly in the name of consumer protection, has walloped listed companies and forced startups with big-name backers like