Didi Global was compelled to delist from the New York Stock Exchange by Chinese officials last year after it displeased them by moving on with a $4.4 billion IPO in the US in July 2021.
China’s Didi Global plans Hong Kong listing in 2024
In This Article You Read About China’s Didi Global plans Hong Kong listing in 2024, China’s biggest ride-hailing company, Didi Global Inc, is getting ready to join the Hong Kong Stock Exchange next year. Employees can sell their shares as part of this.
Last year, Didi had to leave the New York Stock Exchange because they did a big stock listing in the US that Chinese regulators didn’t like.
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After starting in New York, the Chinese government checked on Didi, citing national security. Didi also got a $1.2 billion fine in 2022 for data issues, and they couldn’t get new users for a while.
During this tough time, Didi’s market share in China went from 90% to about 70%.
And just so you know, SoftBank Group Corp., a big supporter of Didi, invested around $11 billion in the company and now owns 20% worth about $3.2 billion.
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