Reaction to Didi Global's plans to delist from New York
$DiDi Global (Delisted)(DIDI.US$
Following are reactions to ride-hailing giant Didi Global's decision to delist from the New York stock exchange and pursue a listing in Hong Kong, succumbing to pressure from Chinese regulators concerned about data security.
Didi ran afoul of Chinese authorities by pushing ahead with its $4.4 billion U.S. IPO in July despite being asked to put it on hold while a review of its data practices was conducted.
Didi will then first delist its shares from the NYSE and start filing for listing on HKEX. The company is already facing class action lawsuit in the US, and we think Didi will buy back its shares at the same IPO price of US$14 per share. However, it may not be able to relist its shares in HK at the same price (rather at a lower price) given there will be stringent control by the state over its use of user's personal data (which will place it at a disadvantage) and location related issues such as liquidity, etc.
Part of the content is taken from Yahoo! Fiance.
Following are reactions to ride-hailing giant Didi Global's decision to delist from the New York stock exchange and pursue a listing in Hong Kong, succumbing to pressure from Chinese regulators concerned about data security.
Didi ran afoul of Chinese authorities by pushing ahead with its $4.4 billion U.S. IPO in July despite being asked to put it on hold while a review of its data practices was conducted.
Didi will then first delist its shares from the NYSE and start filing for listing on HKEX. The company is already facing class action lawsuit in the US, and we think Didi will buy back its shares at the same IPO price of US$14 per share. However, it may not be able to relist its shares in HK at the same price (rather at a lower price) given there will be stringent control by the state over its use of user's personal data (which will place it at a disadvantage) and location related issues such as liquidity, etc.
Part of the content is taken from Yahoo! Fiance.
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luvvies : if they plan to buy back at 14, doesn't it make sense to buy at 7.8 now
101574421 luvvies: I wonder if they have money to buy back the shares now LOL
Himars_SG 101574421: We've been thinking a lot about this, and we're still worried about what we can do