$16.6 Billion China Ride-Hailing Giant Didi Global Planning for IPO to List on Hong Kong Exchange in 2024, IPO in 2021 on New York Stock Exchange with $68 Billion Market Value, Fined $1.19 Billion in 2022 by China for Illegal Collection of User Data & Violating China Security Laws with Founder Cheng Wei & President Jean Liu Fined $147,000 Each
14th October 2023 | Hong Kong
China ride-hailing giant Didi Global ($16.6 billion market value, OTC pricing) is planning for an IPO (Initial Public Offering) to list on Hong Kong Exchange in 2024. In 2021, Didi Global IPO on New York Stock Exchange (NYSE) at the IPO price of $14, rising 1% on Day 1 with a market value of $68 billion (30/6/21, Wed). Didi Global and known as Didi Chuxing in China, was founded in 2012 in Beijing (China), receiving investments from Softbank Vision Fund and Tencent, and in 2016 bought Uber China with Uber becoming a key shareholder (12.8%) of Didi Global. The IPO also created 2 self-made in CEO & founder Will Cheng Wei ($4.4 billion) and President Jean Liu Qing ($1.08 billion). In 2022, Didi Global was fined $1.19 billion (CNY 8 billion) for illegal collection of user data & violating China security laws, with Founder Cheng Wei & President Jean Liu fined $147,000 each (CNY 1 million) and concluding a 12 months investigation since its IPO on 30th June 2021. Since 2015, Didi had been collecting user data that is in breach of China security laws (Cyberspace Administration of China, CAC). In May 2022, Didi Global was placed under investigation by the United States Securities Exchange Commission (SEC) over its $4.4 billion IPO in June 2021. Following scrutiny by Chinese authorities over Didi Global IPO in United States and data privacy concerns, Didi announced in December 2021 of plans to delist from New York Stock Exchange (NYSE), and with plans to list in Hong Kong. More info below:
“ $16.6 Billion China Ride-Hailing Giant Didi Global Planning for IPO to List on Hong Kong Exchange in 2024, IPO in 2021 on New York Stock Exchange with $68 Billion Market Value, Fined $1.19 Billion in 2022 by China for Illegal Collection of User Data & Violating China Security Laws with Founder Cheng Wei & President Jean Liu Fined $147,000 Each “
China Ride-Hailing Giant Didi Global Fined $1.19 Billion for Illegal Collection of User Data & Violating China Security Laws, Founder Cheng Wei & President Jean Liu Fined $147,000 Each
21st July 2022 – China Ride-Hailing giant Didi Global had been fined $1.19 billion (CNY 8 billion) for illegal collection of user data & violating China security laws, with Founder Cheng Wei & President Jean Liu fined $147,000 each (CNY 1 million) and concluding a 12 months investigation since its IPO on 30th June 2021. Since 2015, Didi had been collecting user data that is in breach of China security laws (Cyberspace Administration of China, CAC). Earlier in May 2022, Didi Global is under investigation by the United States Securities Exchange Commission (SEC) over its $4.4 billion IPO in June 2021. Following scrutiny by Chinese authorities over Didi Global IPO in United States and data privacy concerns, Didi announced in December 2021 of plans to delist from New York Stock Exchange (NYSE), and with plans to list in Hong Kong. Didi IPO price was $14.00 (IPO in June 2021), and is trading at $3.49 (20/7/22), down 75% from IPO price. Didi market capitalisation at IPO was $68 billion, and at $3.49 (5/5/22), the market value has shrank to $16.9 billion.
China Ride-Hailing Giant Didi Under Investigation by United States SEC over $4.4 Billion IPO in June 2021, Share Price Declined 86% from IPO
6th May 2022 – China ride-hailing giant Didi Global (NYSE:DIDI) is under investigation by the United States Securities Exchange Commission (SEC) over its $4.4 billion IPO in June 2021. Following scrutiny by Chinese authorities over Didi Global IPO in United States and data privacy concerns, Didi announced in December 2021 of plans to delist from New York Stock Exchange (NYSE), and with plans to list in Hong Kong. Didi IPO price was $14.00 (June 2021), and is trading at $1.94 (5/5/22), down 86% from IPO price. Didi market capitalisation at IPO was $68 billion, and at $1.94 (5/5/22), the market value has shrank to $9.41 billion.
Didi Global IPO on NYSE, Rises 1% on Day 1 with Market Value of $68 Billion
1st July 2021 – Didi Global, China’s largest ride-hailing service and the world’s largest mobility technology company, has IPO on New York Stock Exchange (NYSE) at the IPO price of $14, rising 1% on Day 1 with a market value of $68 billion (30/6/21, Wed). Didi Global share price opened at $16.65 (+18%), reaching a high of $18.01 (+29%), and a low of $14.10 before closing at $14.14 (+1% of IPO price $14). Didi Global and known as Didi Chuxing in China, was founded in 2012 in Beijing (China), receiving investments from Softbank Vision Fund and Tencent, and in 2016 bought Uber China with Uber becoming a key shareholder (12.8%) of Didi Global. The IPO also created 2 self-made in CEO & founder Will Cheng Wei ($4.4 billion) and President Jean Liu Qing ($1.08 billion).
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