Tuesday, July 6th, 2021
The stock market day
The Chinese wanted to prevent Didi IPO in the USA
Chinese regulators wanted weeks before Didi goes public in the US apparently delaying the aisle on the floor of the transport operator. Insiders said that the Internet regulator Cyberspace Administration of China advised the company to go public at a later date to check the company’s network for data security beforehand. Since the authority had not issued an express order, Didi went public.
The company had raised billions from investors before the IPO, which is why the pressure to go public was high. The listing on the New York Stock Exchange brought in approximately $ 4.4 billion. This made it the largest share sale for a Chinese company since the Alibaba Group’s IPO in 2014. In China, however, the Internet regulatory authority was particularly concerned about data security. The reason: The US listing is associated with increased public disclosure. The authorities are concerned that the data could fall into foreign hands.