Another reason why there is no reason to add China risk. Didi was one of the biggest IPO's of the year and one of the most anticipated foreign IPO's since Alibaba. Wall Street was blindsided by Chinese government decision to examine Didi's practices. Ant Group was shelved in November 2020 after the IPO fell apart.
https://www.bloomberg.com/news/artic...-to-remove-appDidi’s American depositary shares fell 20% to $12.49, wiping out about $15 billion of market value and taking the stock below the $14 price from its initial public offering. Beijing-based Didi controls almost the entire ride-hailing market in China and raised $4.4 billion last week in the second-largest U.S. IPO for a Chinese firm.
Over the weekend, China also moved against two other companies that also recently listed in New York, -- Full Truck Alliance Co. and Kanzhun Ltd., Ltd.
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