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VTC: under pressure from Beijing, the Chinese Didi withdraws from Wall Street

December 5, 2021
Source: newsy-today.com newsy-today.com
News Snapshot:
Five months and then leaves: the Chinese Didi Chuxing, Uber’s equivalent in his country, withdrew from the New York Stock Exchange on Friday, where he had been listed since this summer, a victim of the Beijing-Washington technological rivalry. A hard blow for the shareholders: in five months on the New York market, the title Didi will have lost about 45% of its value. Chinese start-ups have long been encouraged to raise funds in the United States to develop. In 2014, e-commerce giant Alibaba carried out the biggest ever IPO on Wall Street, raising $ 25 billion. But in a context...
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