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HONG KONG, Dec 4 — Just 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 reversal as it bends to Chinese regulators angered by its US IPO. Reaction from investors was swift: the...
A Hong Kong listing by Didi Chuxing will test bourse operator Hong Kong Exchanges and Clearing’s readiness to consider Chinese firms facing regulatory action in mainland China.
Didi gave no explanation, but China's leaders increasingly fret about who controls information gathered about its public by e-commerce, ride-hailing and other tech companies.
China's rival to Uber has said it is leaving the New York stock exchange to seek a listing in Hong Kong. Beijing has been pressuring the company over data security.
Didi Global (DIDI) plans to ditch its U.S. stock listing and move its listing to Hong Kong as China's ride-hailing market leader bows to Chinese government pressure and will exit the New York Stock Exchange....DIDI