Caught in the crosshairs of Chinese regulators…

Caught in the crosshairs of Chinese regulators… post thumbnail image

Against the backdrop of the imposition of the ban, the shares of the organization fell.

The leadership of Uber China – the DiDi company – has banned employees from selling the organization’s securities. Writing about this Financial Times.

  • On the back of information about the network ban, the DiDi stock is exhibiting negative dynamics.

DiDI stock chart. Source: MarketWatch

  • How long the organization’s employees will not be able to sell its securities is unknown. According to the newspaper, the ban was introduced indefinitely.
  • News that company employees lost the opportunity to sell their shares was preceded by news of DiDi’s delisting from the New York Stock Exchange. Company representatives made the decision to “transfer” the securities to a Hong Kong trading platform amid pressure from regulators.
  • Recall that DiDi successfully held an IPO in the United States, despite the fact that Chinese authorities launched an antitrust investigation into the company. Against the backdrop of Uber China’s listing of shares in New York, PRC regulators began to put pressure on the organization. DiDi made the decision to “move” to Hong Kong after Chinese authorities accused the organization of a data breach.

Previously, David Lovinger, director of emerging markets research at TCW Group, expressed his opinion that by 2024 most Chinese companies’ shares will disappear from US exchanges.

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