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Jul 30, 2021

Didi is considering going private to appease Chinese authorities and to compensate investors for losses.
Chinese ride-hailing giant Didi Global just listed on the New York Stock Exchange about 30 days ago, raising $4.4B. The Cyberspace Administration of China stunned investors and the company a few days later and told app-store operators to take down the Didi app. Of course the stock tanked after that going from $18 peak to $8.87, giving the company a market cap of $43B. The plan is still under deliberation and needs approval from Didi's board and major pre-IPO investors including SoftBank's Vision Fund (who lost $4B on Didi). Going private would be funded with money that Didi raised in the IPO. Rumors say the price could be around the $14 IPO price. Link

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