INVESTORS ARE still speculating about exactly what Didi Global, a ride-hailing giant, did to draw the ire of Chinese regulators. Some say it foolishly pushed forward with its $4.4bn initial public offering (IPO) in New York despite being told by officials to delay the listing. Others suggest it stole the thunder from leaders in Beijing by kicking off trading on June 30th, the eve of the 100th anniversary of China’s Communist Party.
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Whatever its sin, Didi now says it plans to delist from New York and relist in Hong Kong. It has not specified its reasoning
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