China Asks A Corporate Call To Cancel Listing On The Us

The Chinese government requires Didi Global Inc. Cancel on the New York (USA) trading floor. Requesting to raise concerns about strong pressure ruins for the technology industry.00: 00/2: 13 Southern region according to Bloomberg's source, required by China's technology supervision agency. The reason is to concern about leaking sensitive data

. The message said the proposals are being considered directly privatized, or canceling listing in the US and moving to Hong Kong market. Humanization, the proposed price will not be lower than 14 USD / share - IPO price (release shares to the first public) - to avoid litigation. If you switch to listing on Hong Kong floor, the price will be low More than Didi's stock price on the US
By the end of November 24, the price was 8.11 USD / share. Both two ways are a great blow in the giant calling the car. Only a few days after IPO successfully on the New York floor in July and earned $ 4.4 billion, Didi had a great trouble with the management agency Ly China. Wide 4/7, China Network Space Management Department has asked the app store on the smartphone to remove Didi's application, after discovering the giant calling the fish data collection The people of the user are illegal. Beijing's requirements are given only two days after the management agency forces Didi to stop registering new users and public investigations for the company's network security activities. After acquiring Uber's activity in China in 2016, Didi dominated the market to call the billionaire. Photo: Reuters.didi is currently controlled by co-founder Cheng Wei and President Jean Liu
Japanese Group Soft Bank and Uber Technologies are the two largest minority shareholders of Didi. When Didi turned to listed in Hong Kong, the car called the car will also have to address concerns about data security, capital Being attracting the attention of Beijing officials. They may have to transfer data management for third parties.Washington and Beijing are still arguing about the right to access listed companies' books. Therefore, Didi canceled listing can activate the leaving wave of other Chinese companies on the United States. November 25, a Chinese senior official said the listing cancellation will be "step backward Relations with the US ".didi ever defeated Uber in China to stay dominant position in the market of 1.4 billion people. But now, the company became a test in the repressure of Internet giants. According to observers, part of the tightening control is the "common prosperity" strategy of the President of the President.

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