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Benzinga
Benzinga
Politics
Anusuya Lahiri

DiDi Had To Postpone Its IPO After Jack Ma's Ant: Bloomberg

Didi Jack Ma China NYSE Alibaba DiDi Global Inc Hong Kong Uber Technologies Inc United States
  • DiDi Global Inc (NYSE:DIDI) had to pull the brakes on its Hong Kong listing as it failed to satisfy China's concerns over sensitive data leak, Bloomberg reports.
  • Uber Technologies Inc's (NYSE:UBER) Chinese counterpart remained vulnerable to the possible derailing of its listing plans and regulatory penalties. 
  • The ride-hailing company's main apps were removed from local app stores in 2021 remained suspended for the time being.
  • Related Content: Here's Why Jack Ma Led Alibaba Affiliate's IPO Got Postponed Indefinitely
  • Didi looked to finalize its fourth-quarter results as required for a listing prospectus.
  • Didi became one of the biggest targets of China's tech-sector clampdown after it pushed through a $4.4 billion U.S. IPO in June.
  • The ride-hailing company targeted a domestic IPO following a regulatory crackdown.
  • Price Action: DIDI shares are trading lower by 12.40% at $2.96 premarket on the last check Friday.
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