World Didi Chuxing with IPO in the USA and Hong Kong? Rating of $ 100 billion.
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last year was announced that the Chinese driving agent and over-competitor didi chuxing well plans to jump on the stock market parquet. Didi could now forward a listing in New York to the home market in Hong Kong.
• Didi Chuxing Largest Foot Service Agents in China
• IPO at the New York Stock Exchange - Second listing in Hong Kong?
• Borrow due to official control?
In 2016,after a hard competition had bought the China business of his at that time largest competitors on the home market, . In the meantime, the company, founded in 2012, is considered the largest vehicle service intermediary in China and refer to itself as a "world leading platform for mobile transport and local services". In addition to China, the company operates in 14 other countries - especially at the end of March, DIDI announced its expansion to South Africa - and last year, as DPA reported, already reported 550 million users.
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China’s new election system in Hong Kong has wiped out years of struggle for more democratic freedoms.Since 1989, when Chinese soldiers silenced the Tiananmen Square protests by opening fire on those gathered there, many Hong Kong people have demanded more autonomy from the Chinese government. The way to guarantee that, they said, was universal voting rights and open, free elections – a Hong Kong ruled by Hong Kong people.
In the summer of 2020, the Chinese economic magazine Caixin reported citing a source related source that existingDIDI-IPO: Dear New York instead of Hong Kong - or both? - without calling a concrete schedule. Now there are other news about the possible IPO.
The news agency Reuters reports, citing the company related persons that Didi probably would probably prefer an IPO at the New York stock exchange in Hong Kong - or also a second listing in Hong Kong considered if the IPO takes up in the USA. The company is aimed at a rating of at least $ 100 billion, as two informed persons approved. Thus, DIDI could redeem about 10 billion US dollars with the sale of 10 percent of its shares. Thus, the company could succeed the largest IPO of a Chinese company in the US since that ofin 2014. At that time, Alibaba was able to revoke 25 billion dollars.
China is 'trampling on Hong Kong's democracy'
With Beijing's influence now paramount, many in Hong Kong are torn between defiance and resignation.Recent changes ensure that only "patriots" loyal to the mainland can end up in positions of power. To those hoping Hong Kong might move towards greater democracy, it feels like the final blow.
Multiple sources have also informed Reuters that DIDI is the possibility of listing on the merger with an investment vehicle (SPAC), which would arise by an IPO, but this option would be considered less feasible in view of the evaluation target.concerns about official control?
two of the sources suggested Reuters that the preferential listing on the New York stock exchange partially reflects concerns. Remember that an IPO application in Hong Kong could be subject to a stricter regulatory control of DIDI's business practices.
Another advantage that Didi is promising one of the sources from an IPO in New York, is a predictable pace for a stock market listing and a lower capital pool. According to this source, the IPO could take place in the second quarter, reports Reuters.Listings Chinese companies in the US
DIDIS planned listing in the USA, according to Reuters, contribute to the strong dynamics of Chinese companies that have won investors in this market in recent years - and despite increasing tensions between the US and China. Last year, Chinese companies, according to Refinitive, have taken more than three times as much as in 2019 by US Listings: Twelve billion US dollars.
Didi Chuxing himself said according to Reuters, it has no concrete plan regarding the Listing goal or schedule and also the Hong Konger stock market operator HKEX rejected it to comment on the possibility of a DIDI listing on its own platform. FINANCEN.net
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