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China regulators ask DiDi Global to delist from New York Stock Exchange

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AMB Crypto

Fri, Nov 26, 2021

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Aliens TLDR

The Chinese government had initially unveiled a five-year plan outlining tighter regulation of much of its economy.

In a recent development, Chinese regulators have asked Didi Global Inc.’s top executives to devise a plan to delist from the New York Stock Exchange.

Reportedly, the Cyberspace Administration of China has directed Didi to work out precise details, subject to government approval.

However, “If there is a secondary listing in Hong Kong, the IPO price would probably be a discount to the share price in the U.S., $8.11 as of Wednesday’s close.” Needless to say, any headwinds arising from this region are bound to have a price setback.

Consider this, last year in December, Didi saw its customers complete payments for the Didi Bike using the digital Yuan .

Regardless of such arguments, the Cyberspace Administration of China saw Didi’s IPO decision as a challenge to the central government’s authority

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