Didi To Leave US Stock Market, List In Hong Kong

(MENAFN- ValueWalk) AhmadArdity / Pixabay

In the early morning of December 3, 2021, the Chinese ride-hailing company, DiDi Global Inc (NYSE:DIDI), made this surprise announcement.

Get The Full Walter Schloss Series in PDF

Get the entire 10-part series on Walter Schloss in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues.

Q3 2021 hedge fund letters, conferences and more

The Man Behind TCI: One Of The World's Top-Performing Hedge Funds

The Children's Investment Fund Management LLP is a London-based hedge fund firm better known by its acronym TCI. Founded by Sir Chris Hohn in 2003, the fund has a global mandate and supports the Children's Investment Fund Foundation (CIFF). Q3 2021 hedge fund letters, conferences and more The CIFF was established in 2002 by Hohn Read More

Didi To Leave US Stock Market

Didi Chuxing has experienced a turbulent five-month post-IPO period. According to the company's announcement, it is planning to delist from the US market and go public again, in Hong Kong.

Since it experienced regulatory crackdowns and was delisted from app stores in China, Didi's stock price has slumped by 44.29% at USD 7.8 per share.

Law firms including Rosen, Labaton Sucharown and Schall gathered recently and initiated a class suit against Didi. They believe the IPO of Didi presented misguiding information and impaired the benefit of shareholders.

Whether Didi's effort to win back the Chinese government 's approval is yet to be seen; however, it has undoubtedly rendered its reputation as untrustworthy in the US market.

Article by Enoch Gao, EqualOcean , an investment research firm focusing on China.

Updated on Dec 3, 2021, 1:02 pm

MENAFN06122021005205011743ID1103310512