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Didi Global (DIDI) to delist from US and seeks Hong Kong listing

By Andreas Ismar

04:59, 3 December 2021

Didi logo on a smartphone
Didi logo on a smartphone - Photo: Shutterstock

Chinese ride-hailing firm Didi Global plans to delist from US and seeks Hong Kong listing amid rising pressures from Beijing following its $4.4bn initial public offering (IPO) on the New York Stock Exchange (NYSE).

Beijing has been stepping up its scrutiny on Chinese technology firms on data security grounds, homing in major corporations such as Alibaba, Tencent, and TikTok’s parent ByteDance.

Didi has drawn the ire of Chinese authorities by pushing ahead with its US listing in June, calling the removal of its apps from smartphone app stores in China days after the blockbuster IPO.

Didi’s board “has authorised and supports the Company to undertake the necessary procedures and file the relevant application(s) for the delisting of the Company’s ADSs (American depositary shares) from the New York Stock Exchange, while ensuring that ADSs will be convertible into freely tradable shares of the Company on another internationally recognised stock exchange at the election of ADS holders,” it said in a statement.


0.62 Price
+1.850% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.01168


2,039.91 Price
+1.260% 1D Chg, %
Long position overnight fee -0.0192%
Short position overnight fee 0.0110%
Overnight fee time 22:00 (UTC)
Spread 0.30


37,932.05 Price
+2.200% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00

Oil - Crude

76.85 Price
+2.290% 1D Chg, %
Long position overnight fee -0.0187%
Short position overnight fee -0.0032%
Overnight fee time 22:00 (UTC)
Spread 0.030

To pursue Hong Kong listing

“The Board has also authorized the Company to pursue a listing of its class A ordinary shares on the Main Board of the Hong Kong Stock Exchange,” said Didi, adding that a shareholders meeting will be held “at an appropriate time in the future.”

Didi shares ended 0.1% lower at $7.8 on the NYSE on Thursday and was flat in post-market hours. Its stock has fallen nearly 45% compared to its IPO price of $14.

Beijing’s clampdown have prompted companies like LinkDoc Technologies and Hello Inc to withdrew their US listing plans. Hong Kong-based insurer FWD, which does not have substantial operations in mainland China, flagged in its amended IPO filing with the US Securities and Exchange Commission that it cannot guarantee it will be immune towards Beijing’s interventions.

Read more: Hong Kong stocks fall as Didi delisting sours sentiment

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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