Dec. 6th, 2021
According to a story in Reuters on December 3rd,2021, it talks about how the ride-hailing giant Didi has said it has decided to withdraw from the New York Stock Exchange and instead pursue a listing in the Hong Kong exchange. It is common knowledge that Chinese regulators have pressured Didi’s top executives to devise a plan to delist from the New York Stock Exchange due to concerns about data security. Reaction from investors was swift: the company’s shares fell 22.17%, losing about $8.4 billion in market value. At their Friday close of $6.07, Didi shares have fallen about 57% since their June IPO price.
This is yet another example of how the communist regime treats businesses that seem to be unruly, they simply threaten to destroy them unless they do as they are told, this is a similar situation to the one that billionaire Jack Ma found himself in and now the tyrannical authorities have complete control of his business empire. Basically, if you want to have a successful business in mainland China you must have the consent of the CCP, as they always want a piece of the action and without them, your business is sure to fail.
For more details about this story please click the link: https://www.reuters.com/technology/didi-global-start-work-delisting-new-york-pursue-ipo-hong-kong-2021-12-03/
Editor: Mr Cow / PR: Mini Cow
Edited by：【Himalaya London Club UK】
Disclaimer: This article only represents the author’s view. Gnews is not responsible for any legal risks.