Chinese regulators suggest Hong Kong listing for Didi - WSJ

By Kitco News / October 21, 2021 / www.kitco.com / Article Link

(Reuters) - China's cybersecurity watchdog suggested ride-hailing firm Didi Global Inc and two other U.S.-listed tech companies explore listings in Hong Kong, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

The Cyberspace Administration of China (CAC) broached the idea in recent conversations with executives from Didi, logistics platform Full Truck Alliance Co and online recruitment firm Kanzhun Ltd, according to the report.

The three firms, which went public in June, were being investigated by the CAC amid a crackdown on the mainland's tech companies against the backdrop of tightened regulations on data security.

Full Truck is already in the process of exploring an offering in Hong Kong and the listing could happen as early as next year, the WSJ reported.

The CAC, Didi, Full Truck and Kanzhun did not immediately respond to Reuters requests for comment.

Reporting by Nivedita Balu in Bengaluru; Editing by Shounak Dasgupta

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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