IPO, Didi had weighed a potential Hong Kong listing but abandoned the effort after the city’s exchange, which makes far more stringent demands on companies seeking a listing than its New York peers, questioned Didi’s compliance with Chinese regulations. The entire process could take three to six months, First Shanghai Securities analyst Linus Yip said. The firm is planning to file for the Hong Kong listing around March, people with knowledge of the matter told Bloomberg News. exchanges because of concerns about leakage of sensitive data.ĭidi said it aims to list on the Hong Kong Stock Exchange and ensure that its American depositary shares can be swapped for “freely tradable shares of the Company on another internationally recognized stock exchange,” according to a statement. In late November, people with knowledge of the matter said that the Cyberspace Administration of China, the agency responsible for data security in the country, had asked Didi’s top executives to devise a plan to delist from U.S. Days after the listing, the government announced a cybersecurity probe into the firm and forced its services off domestic app stores. The firm pressed ahead with the June IPO anyway, in a move that Beijing saw as a challenge to its authority. listing, saying it could expose Didi’s vast troves of data to foreign powers. ‘Ghost Signs’ Haunt London’s Reviving NeighborhoodsĬhinese regulators opposed the U.S. Meet the New Climate Refugee in Town: Coyotes The Hot New Trend For Hedge Funds Is-Finally-Female FoundersĮven in the Metaverse, Not All Identities Are Created Equal There are challenges ahead - for Didi, its shareholders and other Chinese companies looking to go public. The Chinese ride-hailing giant said it plans to list in Hong Kong instead, allowing existing shareholders to convert their holdings in the company. says it plans to delist from the New York Stock Exchange, barely five months after its initial public offering drew the wrath of Beijing.
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