![]() read moreĭidi said in a statement on Monday it had no knowledge before its $4.4 billion listing that CAC would start to investigate the company and order its app to be taken down. On Sunday, the agency ordered a suspension of app downloads for Didi after it found the company illegally collected personal user data. The deal would have raised 211 million at the upper end of the indicated range. It had planned to sell 10.8 million shares between 17.50 and 19.50 each. The Cyberspace Administration of China (CAC) launched the investigation into Didi on Friday, just two days after the company began trading on the New York Stock Exchange. LinkDoc filed for an initial public offering in the United States last month and was due to price its shares after the U.S. ![]() But a person close to the company told the newspaper the company ultimately decided to go ahead with the IPO as it faced increasing investor pressure for a big payout. Its online audio services have covered rich content enjoyed by users. According to its official website, Shanghai Ximalaya Technology Co., Ltd., established in 2012, is a leading online audio sharing platform in China. It isn’t known whether Didi carried out its own review, according to the WSJ report. SEE ALSO: Faced with Possible Effects of Didi App Removal, Chinese Companies Keep, Ximalaya and LinkDoc Cancel IPO Plans in US. July 5 (Reuters) - China’s cybersecurity watchdog suggested Didi Global Inc (DIDI.N) delay its initial public offering and urged it to review its network security, weeks before the Chinese ride-hailing giant went public, the Wall Street Journal reported on Monday, citing people familiar with the matter. LinkDoc has suspended plans for a US IPO, the first to do so after Beijings crackdown, Reuters reported.
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