Didi Stock Price

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to ourTerms of use,Cookie policyandPrivacy notice. This site is protected by reCAPTCHA and the GooglePrivacy policyandTerms of serviceapply. The company is currently weighing different options on how to implement the plan, which will be carried out in the first half of 2022 as it told the Chinese regulators, said the people. But Chinese companies have also been closely watched by American regulators. Beijing has also announced rules to protect the rights of the millions of ride-hailing drivers, in a move aimed to underpin the sector’s growth.

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Meanwhile, reports from Chinese state media suggest that China would now end the tech crackdown and would also support the overseas listing of its domestic companies. The news triggered howard marks a buying spree in all US-listed Chinese shares and Didi more than doubled in the week. Months after the IPO, Didi eventually announced a delisting from the US markets.

Bilibili was trading up 21%, JD.com up 9%, Alibaba gaining 10% and Baidu up 6.3%. He said talks between Chinese and U.S. regulators on Chinese companies listed in the United States have made positive progress and regulators are working on specific cooperation plans. Investors can target short-term rebound profits at approximately $14.71 or higher at $15.31 for extended gains.

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As for the US delisting, Didi plans to list in Hong Kong first to allow investors in the US shares to transfer them to the Hong Kong bourse gradually, said the people. Didi’s shares closed at US$5.30 on Monday, down 62% from the IPO price of US$14. As Didi was listed in June, it cannot list in Hong Kong through a secondary listing as that would require a good track record of at least two financial years of regulatory compliance on another qualifying exchange. Didi Global shares have lost more than 40% of their value since their US market debut. Like many other Chinese technology companies Didi has also come under pressure from regulators in the US and Europe.

It should only be considered an indication and not a recommendation. Our aim is to build long-term relationships by providing the best possible trading experience through our technology and customer service. Last month, the group reported a second quarter loss after its Vision Fund unit took a $10bn hit from a decline in the share price of its portfolio companies. † 1 point spreads available on the UK 100, Germany 40, France 40 and Australia 200 during market hours on daily funded trades and CFDs . Nextdoor, the social platform focused on connecting local neighbours and businesses, has said it plans to go public by merging with blank-cheque company Khosla Venture Acquisition Co II. Twitter has lost liability protection applied to user-generated content on its platform in India, the government said in a new court filing, as tensions over new rules for the digital sector continue to escalate.

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But its reception was weaker than expected, and shares slid more than 20 per cent, pulling the merged company’s market cap down to $34.6bn. First off, its portfolio company Grab, Southeast Asia’s biggest ride-hailing and delivery firm, made its debut on New York’s Nasdaq on Thursday via the world’s biggest Spac deal of $40bn. Softbank founder and chief executive Masayoshi SonShares in Japanese conglomerate Softbank sank as much as 3.5 per cent today after three of its high-profile investments Didi, Arm and Grab were hit with setbacks in the last 24 hours. No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Japan’s SoftBank is Didi’s largest single investor with a stake of more than 20%. It is also backed by Chinese technology giants Alibaba and Tencent. Chinese ride-hailing giant Didi Global has announced plans to take its shares off the New York Stock Exchange and move its listing to Hong Kong. Open a free, no-risk demo account to stay on top of market movement and important events. 3Recent headlines from China highlight that authorities there are cracking down on ‘platform businesses’ amid antitrust violations.

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He also added that Uber last week had its best week ever in terms of company-wide gross bookings at its ride-hail and food delivery operations. Chinese regulators have tightened their grip on the ride-hailing industry, citing excessive data collection and unfair pricing policies. The Ministry of Transport, in cooperation with the Cyberspace Administration of China , recently summoned eleven ride-hailing executives for questioning. The Transport Ministry and CAC claimed the companies in question had used illegally collected data and their dominant market positions to implement unfair and opaque pricing techniques. Uber pulled out of China in 2016 after it burned over a billion dollars a year in a fierce price war with Didi. It eventually decided to sell its China operations to Didi in exchange for shares.

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• Beijing has also announced rules to protect the rights of the millions of ride-hailing drivers, in a move aimed to underpin the sector’s growth.
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He mainly covers metals, electric vehicles, asset managers, and other macroeconomic news. He also loves writing on personal finance and topics related to valuation. Mohit has also written for Market Realist, The Economic Times, Wall Street Desk, and Talk Markets. “The process of listing by introduction is simpler as there will be no fundraising, which is no sale of shares.

Didi Global Inc Adr Company Profile

Uber currently owns 12.8% of Didi, according to a filing by the Chinese company in June. The CEO explained that many of the companies in which Uber has a stake have gone public recently, meaning they are still subject to a lockup period – when investors cannot sell stock. He also added that Uber would continue to hold some stakes for strategic reasons. Listing by introduction is a way of listing shares already in issue on another exchange. No marketing arrangement is required as the shares for which listing is sought are already widely held. Within days China’s internet regulator ordered online stores not to offer Didi’s app, saying it illegally collected users’ personal data.

Information about Didi Global Inc ADR share price and performance. The technical summary section provides an analysis as to whether Didi Global Inc ADR stock is a buy or sell using real time data. Use the tab to select a relevant stock exchange, depending on the stock, you may prefer to view either NASDAQ stock prices or LSE share prices.

After the Didi delisting announcement, Wall Street analysts stopped covering the shares. However, the shares trade at an NTM (next-12 months) EV-to-sales multiple of 0.43x. While there is a structural valuation multiple deterioration in valuation multiples of Chinese companies, Didi’s valuations still look attractive despite the surge last week. At one Didi Stock Price point, the company’s NTM EV-to-sales had even plummeted below 0.08x last week. Just days before the news of China going back on the tech crackdown emerged, Reuters reported that Chinese tech giants like Alibaba and Tencent are cutting thousands of jobs. The Chinese economy is slowing down, and any job cuts would put more pressure on the economy.

While Didi, like other gig economy companies globally, classifies the riders as contractors, China wants the company to improve the compensation of riders. This forms a key part of Chinese President Xi Jinping’s “Common Prosperity” program. In August, the company launched a pilot version of its “transparent driver income report” in seven cities across China, intending to eventually expand the function to all its drivers in the country. Khosrowshahi added that the company was in no rush to sell the shares.

And the ride-sharing app has been removed from app stores as a consequence. Needless to say, this is terrible news for the company and investors. The value of shares, ETFs and ETCs bought through a share dealing account, a stocks and shares ISA or a SIPP can fall as well as rise, which could mean getting back less than you originally put in. There’s no cost when opening a live spread betting or CFD trading account. You can also view prices and use tools such as charts, Reuters news or Morningstar quantitative equity reports, free of charge.

We consistently achieve core platform uptime, allowing you to focus on your trading. Md Motiur enjoys researching how companies are solving challenges the world will face over the coming decades. Blend Labs, the digital banking platform specialising in mortgage lending, has said it is targeting an initial valuation of around $4 billion through its IPO. The deal will raise around $686 million for the company to help accelerate its growth plans, which includes hiring more staff and expanding into new countries.