Trading Concept
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Trading Concept
No Result
View All Result
Home Trading News

Didi shares sink on a report that Chinese regulators have asked it to delist from U.S.

by
November 26, 2021
in Trading News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Manhattan rents hit an all-time high in January

Morgan Stanley says Biden-backed green subsidies will boost this little-known hydrogen stock

A navigation map on the app of Chinese ride-hailing giant Didi is seen on a mobile phone in front of the app logo displayed in this illustration picture taken July 1, 2021.

Florence Lo | Reuters

GUANGZHOU, China — Shares of China’s Didi sank sharply on Friday after Bloomberg reported that Chinese regulators have asked the firm’s executives to formulate a plan to delist from the U.S.

Didi shares were down nearly 7% in U.S. premarket trading amid a wider sell-off. SoftBank shares in Japan closed down by 5%. SoftBank’s Vision Fund owned more than 20% of Didi following its U.S. listing.

Bloomberg’s report said regulators want Chinese ride-hailing giant Didi to delist from the New York Stock Exchange because of concerns about leakage of sensitive data. The news agency cited people familiar with the matter who asked not to be identified due to the sensitivity of the matter.

CNBC was unable to confirm the Bloomberg report. Didi declined to comment on the report when contacted by CNBC.

The Cyberspace Administration of China has asked Didi to work out the details for a delisting which will be subject to government approval, Bloomberg said.

Didi could either go for a privatization or a listing in Hong Kong after delisting in the U.S, the report said.

A privatization would be at the $14 per share IPO price when the company listed, while a Hong Kong float would likely be at a discount to what Didi’s shares were trading at in the U.S., according to Bloomberg.

A state-directed delisting would be an unprecedented move but highlights Beijing’s continued push to reign in technology giants and put them under tighter regulation. Didi in particular is a special case. Shortly after its IPO in the U.S. in June, regulators opened a cybersecurity review into the company.

Didi reportedly drew the ire of regulators by pushing ahead with an IPO without resolving outstanding cybersecurity issues that the authorities wanted solved. Didi is China’s largest ride-hailing app and holds lots of data on travel routes and users.

ShareTweetPin

Related Posts

Manhattan rents hit an all-time high in January

by
February 9, 2023
0

A man enters a building with rental apartments available in New York City. Eduardo Munoz Alvarez | VIEW press |...

Morgan Stanley says Biden-backed green subsidies will boost this little-known hydrogen stock

by
February 9, 2023
0

Shares of Norway's Nel Hydrogen are expected to rise by more than 20% thanks to the latest set of green...

Singapore drops pre-departure requirements for travelers, further eases mask rules

by
February 9, 2023
0

People gather outside the ArtScience Museum at Marina Bay Sands in Singapore on January 17, 2023. (Photo by Roslan RAHMAN...

Oil faces a ‘serious problem’ by 2024 as production capacity runs out, warns Goldman — here are 3 big oil stocks with yields as high as 4%

by
February 9, 2023
0

S&P 500 4,117.86 -46.14(-1.11%) Dow 30 33,949.01 -207.68(-0.61%) Nasdaq 11,910.52 -203.27(-1.68%) Russell 2000 1,942.60 -30.01(-1.52%) Crude Oil 78.47 0.00(0.00%) Gold...

‘Lithium Batteries Are the New Oil,’ According to Elon Musk — Here Are 2 Stocks to Take Advantage

by
February 9, 2023
0

S&P Futures 4,137.50 +7.00(+0.17%) Dow Futures 34,065.00 +70.00(+0.21%) Nasdaq Futures 12,580.00 +34.75(+0.28%) Russell 2000 Futures 1,953.00 +3.10(+0.16%) Crude Oil 78.57...

Next Post

Bitcoin, Ether and Cryptos Across the Board Slump Amid New Covid-19 Variant Fears

Dow futures drop more than 800 points on fears of new Covid variant found in South Africa

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:



By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • WHO says Covid vaccine booster programs will prolong pandemic

    0 shares
    Share 0 Tweet 0
  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • Spin or Split? AT&T Has a Big Decision to Make on Discovery Stake.

    0 shares
    Share 0 Tweet 0
  • Here’s how Carl Icahn is positioning for a possible recession in America

    0 shares
    Share 0 Tweet 0
  • Some lawmakers and their families are betting thousands of dollars on crypto

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by tradingconcept.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.tradingconcept.net