4/16/2023 0 Comments Sources didi keep linkdoc us![]() trading session since Chinese regulators ordered its app off mobile app stores in China. ![]() July 5-6 – Didi says it was unaware before its IPO that the CAC would launch a cybersecurity investigation or order a halt in China to new user registrations and a suspension of app downloads.ĭidi shares fall as much as 25% in the first U.S. July 4 – The CAC orders Chinese app stores to stop offering Didi’s app after finding that the firm had illegally collected users’ personal data.ĭidi says it had stopped registering new users and would remove its app from app stores, as well as making changes to comply with rules and protect users’ rights. ![]() July 2 – The Cyberspace Administration of China (CAC) says it has launched an investigation into Didi to protect national security and the public interest, and that Didi was not allowed to register new users during the probe, sending Didi shares lower.ĭidi says it plans a comprehensive examination of cybersecurity risks and would cooperate fully with the relevant government authority. The shares end their first day of trading slightly above the IPO price. The probe, the latest in a sweeping crackdown on China’s so-called “platform” companies, is investigating whether Didi used any competitive practices that squeezed out smaller rivals unfairly, and whether the pricing mechanism used by Didi’s core ride-hailing business is transparent enough, sources said. June 17 – Reuters reports that China’s market regulator has begun an antitrust probe into Didi, citing three people with knowledge of the matter. listing, setting the stage for what is expected to be the world’s biggest initial public offering of 2021. June 11 – Beijing-based Didi makes public the filing for its U.S. [įollowing are key events since Didi publicly announced its intention to list in the United States: comes as a deepening regulatory crackdown wiped billions of dollars off the ride-hailing giant’s valuation. IPO in July.ĭidi’s decision to delist in the U.S. listing by a Chinese firm on record, after Alibaba Group Holding Ltd.’s $25 billion blockbuster debut in 2014.HONG KONG (Reuters) – Didi Global said on Friday it will delist from the New York stock exchange and pursue a listing in Hong Kong, the latest development after it ran afoul of Chinese regulators by pushing ahead with its $4.4 billion U.S. this year, according to data compiled by Bloomberg. Its investors include Alibaba Health Information Technology Ltd., MBK Partners, New Enterprise Associates and Temasek Holdings Pte according to a preliminary filing.Ĭhinese companies have raised about $13 billion through first-time share sales in the U.S. LinkDoc, founded in 2014, provides cancer focused health-care services built on big data and artificial intelligence, its website shows. A representative for LinkDoc declined to comment. Reuters reported LinkDoc’s IPO halt earlier Thursday. LinkDoc’s IPO delay also comes as regulators in Beijing are planning rule changes that would allow them to block a Chinese company from listing overseas even if the unit selling shares is incorporated outside China, closing a loophole long-used by the country’s technology giants, Bloomberg News reported this week. plunged after the government ordered the removal of the ride-hailing giant’s app from local app stores within days of its $4.4 billion U.S. Chinese technology stocks suffered a rout after China signaled a new era of tighter oversight over cybersecurity.
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