A few days after Didi’s IPO, China’s cybersecurity regulator asked app stores to remove the company’s apps, citing serious violations of the collection and use of personal information. . Didi’s share price fell as much as 25% in its first trading day after China’s crackdown. Shareholders sued the company, as well as its directors and underwriters, alleging that Didi failed to disclose the negotiations it was having with Chinese authorities about compliance with cybersecurity laws. In the wake of Didi, several companies have delayed or delayed their US IPO plans, reportedly, including healthcare company LinkDoc Technology Ltd., bike-sharing company Hello Inc. and audio sharing platform Ximalaya Inc. J&T Express – an Indonesian company with a number of China-based investors and significant operations there – has moved its planned US listing to Hong Kong and other companies. Others may follow.
https://www.washingtonpost.com/business/why-china-and-us-are-clashing-over-stock-listings/2021/12/03/d18d2a32-5434-11ec-83d2-d9dab0e23b7e_story.html?utm_source=rss&utm_medium=referral&utm_campaign=wp_business Why China and the US are in conflict over stock listings