China app giant Didi plans US stock market exit in move to Hong Kong

Key Facts

• Didi's was the biggest listing in the US by a Chinese company since Alibaba's debut in 2014 Chinese ride-hailing giant Didi Global has announced plans to take its shares off the New York Stock Exchange (NYSE) and move its listing to Hong Kong.
• Like many other Chinese technology companies Didi has also come under pressure from regulators in the US and Europe.
• The law was passed in 2020 after Chinese regulators repeatedly denied requests from US authorities to inspect the the accounts of Chinese firms that list and trade in the US.
• Didi said it is preparing to list in Hong Kong, and shareholders of its US listed shares will be able to convert their holdings to those on another stock exchange.

Click To Read Full Article