The American dream of Chinese business owners was shattered when more than 200 China Concepts Stock left the United States, the world’s largest capital market, due to China’s rejection of U.S. regulatory requirements as well as the U.S.-China geopolitical tension.
June 10 was the last day Didi Global (DIDI) was listed on the New York Stock Exchange (NYSE), only 11 months after its IPO. Didi’s share price fell to $2.29, 84 percent lower than its IPO share price of $14.
An app-based ride-hailing service Didi made its public debut on the NYSE on June 30 last year. It successfully raised $4.4 billion at a share price of $14. However, it was subjected to a cybersecurity probe by the Cyberspace Administration of China and had its app taken down. New users were banned from registering, citing “serious” violations of laws and regulations regarding the collection and use of personal information. Didi’s share price has since plummeted. In December last year, Didi announced that it planned to delist from the NYSE….