Brace for a $600 bln Chinese escape from New York

Amber International Holding

22/12/2021 01:07

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are her own.)
    By Jennifer Hughes
    HONG KONG, Dec 22 (Reuters Breakingviews) - Mainland-based
companies with U.S. listings face regulatory fire from both
Beijing and Washington. Retreats are accelerating, as
ride-hailing outfit Didi joins the exodus mere months after its
$4 bln IPO. Hong Kong offers one clear route, but there will be
a wave of buyouts too. 
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    CONTEXT NEWS
    - Didi Global said on Dec. 2 that it would start work on
delisting from the New York Stock Exchange and seek to sell its
shares in Hong Kong. The ride-hailing company raised about $4.4
billion in an initial public offering on June 30 despite being
asked to put it on hold while Chinese officials reviewed its
data practices. It was the biggest U.S. share sale by a Chinese
company since Alibaba raised $25 billion in 2014.

 (Editing by Jeffrey Goldfarb and Thomas Shum)
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