Didi reportedly has started discussions with HKEx on listing, delist from US

[Stranagor]

Didi reportedly has started discussions with HKEx on listing

Holders of Didi's US shares will be able to swap their Hong Kong shares on a 1:1 basis, the Financial Times quoted a big Didi investor as saying.

cnevpost.com

Didi Chuxing, the Chinese ride-hailing giant that announced early last month that it would delist from the US, has made new progress on a Hong Kong listing.

Citing two people familiar with the matter, the Financial Times said in a report today that Didi has begun informal discussions with the Hong Kong Stock Exchange (HKEx) about a listing.

A listing in Hong Kong is critical for Didi, after which it will begin the delisting process in the US, when holders of its US shares will be able to swap their Hong Kong shares on a 1:1 basis, the report said, citing a big Didi investor.

"This is the suggestion from the Chinese [government], so if they can’t pull this off then they are in the penalty box forever, " the investor said.


But Didi's listing in Hong Kong won't be straightforward and could take a long time to arrange, according to the report, adding that the two big challenges the company currently faces are an unresolved government investigation and problems in getting the right permits for its operations and drivers in multiple Chinese cities.

On December 3, Didi announced that it was starting the process of delisting from the New York Stock Exchange and initiating preparations for an IPO in Hong Kong, effective immediately.

The company said in a statement at the time that its board authorized the company to apply for delisting from the NYSE and seek a listing in Hong Kong.

The company will ensure that its US-traded ADSs are convertible into shares it can freely trade on another internationally recognized stock exchange, the statement said.

Didi landed on the New York Stock Exchange on June 30, 2021 under the trading symbol "DIDI," opening at $16.65, nearly 19 percent higher than its offering price of $14.

But just two days later, China's Cybersecurity Review Office said in an announcement on July 2, 2021, that it was implementing a cybersecurity review of Didi to prevent national data security risks, maintain national security and protect the public interest.

Since then, Didi's shares have fallen a cumulative 70 percent, although it rose 9 percent to $4.90 on Tuesday.

 

[Song Hong]

Right now the Liu family is being exposed as a big axxhole.

China is probably the very few countries in the world that would expose the criminal origin of her rich people.

Other country will say their rich are genius and hardworking while the people are lazy and stupid.

 

[Skull and Bones]

All Chinese companies should be delisted from NYSE/Nasdaq, these volatile companies wipes out the wealth of common working class people.

 

[Song Hong]

All Chinese companies should be delisted from NYSE/Nasdaq, these volatile companies wipes out the wealth of common working class people.

The biggest guy who benefit from China oversea listings are the oversea tycoon and China comprador. One big motivation of listings in NYSE/NASDAQ is for these 5th column to cash out. The very successful indigeneous companies such as Huawei are not listed. Big profitable SOE like state grid or Chinese tabocco are either not listed, locally listed or HK listed.

 

[Stranagor]

All Chinese companies should be delisted from NYSE/Nasdaq, these volatile companies wipes out the wealth of common working class people.

India, with its great call center capacity, should replace those small, backward companies.

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On a serious note for those non-Indianized, delisting basically means investment money changing course (at least some amount of it) from US to somewhere else:

Foreigners to Invest USD47.1 Billion in China’s Stock Market as Economy Grows 5.4%, UBS Predicts

Foreigners to Invest USD47.1 Billion in China’s Stock Market as Economy Grows 5.4%, UBS Predicts

www.yicaiglobal.com