Didi, the Chinese private transport giant announces public listing at Hang Seng Tech in Hong Kong
Wall Street goodbye. The giant of Chinese private transport, Didi, not even six months after the official landing, announced the withdrawal from the Nasdaq in the United States, preparing for the listing at Hong Kong. “After careful consideration, the company has initiated the delisting process from the Nasdaq with immediate effect and has begun preparatory work for a listing in Hong Kong,” China’s Uber wrote in a brief statement posted to its Weibo account. A point for Beijing, a serious blow to the shareholders: in five months on the New York market, the Didi stock has lost about 45% of its value.
The announcement is part of the great chapter of the Beijing’s grasp on the technology sector, which cost the entire sector more than $ 1 trillion of market capitalization which went up in smoke.
Only Didi saw hers shares collapse at a unit value of $ 7.8, after a real meltdown last week on indications that Chinese regulators had explicitly asked the company to formulate a plan for delisting from the United States, based on concerns about security and the loss of sensitive data.
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