Didi from China to be evacuated from New York and to go public in Hong Kong

Didi Chuxing, a group of Chinese horsemen who have been involved in Beijing’s violations of professional companies, has said it has removed from the New York Stock Exchange to reduce China’s exports to major US markets.

The company signed up for its official Weibo account on Friday to begin work on the removal and preparation process for a public announcement in Hong Kong.

The company said its agency had agreed that New York should withdraw its American shares “to ensure that the ADSs were transformed into corporate trading units in some of the world-famous markets”.

Hong Kong’s Hang Seng Tech index, which tracks the 30 largest technology companies in China, dropped to 2.4 percent on Friday following the news. Alibaba’s ecommerce group was 5.3 percent lower, Meituan food delivery activity dropped by 4.8 percent and Tencent online group lost 3.2 percent.

The moderators ordered that Didi program be installed has been removed from home stores in July, a few days after the $ 4.4bn board climbed China’s largest list in the US since Alibaba in 2014. The company was also forbidden to sign new readers.

The first public offering, completed just days before the Chinese Communist Party celebrates a hundred years, angered party officials and government officials who felt that the group had done something wrong he ignored their concerns about the security of his country and its huge list of maps and other information.

Didi launched his New York IPO among a long-term stress on the control of major Chinese technical groups. The revolutionary movement began in November 2020, with President Xi Jinping ordered a last-minute stop of Shanghai and Hong Kong two Ant Group series, Jack Ma’s fintech tower.

Ma, who was once the richest and most well-known businessman in the country, angered Xi and other officials by criticizing Chinese economic authorities a few weeks before the planned IPO, which was set to become the world’s largest.

Since the launch, Ma, who also launched the ecommerce platform Alibaba, has been around for a long time. he vanished out of his sight.

Didi’s rush to remove the list comes at the end of a six-month closure at the end of December that could allow company executives and almost all shareholders to start losing shares in New York.

“The government can call for something without realizing how difficult it is,” said a lawyer in Beijing, who believes Didi’s supervisors would need to give their part in making this possible.

Didi said in the future there would be a majority vote with shares in the matter.

Additional reports of Emma Zhou in Beijing and William Langley in Hong Kong