China cracks down on Didi days after IPO

DiDi is a Chinese Ride Hailing app that raised $4.4bn in its listing on the New York Stock exchange this Wednesday.  This was the biggest Chinese listing in the US since Alibaba listed seven years ago. The stock initially rallied, then two days later news broke that the Chinese regulators are investigating the company.  They say they are doing this  “in order to maintain national security and protect the public interest.” The stock fell 5.3 per cent on Friday to $15.52 on this announcement. The Cyberspace Administration of China then went on to announce today that Didi’s app had “problems of seriously violating laws on collecting and using personal information”. They ordered that Didi be taken down from Chinese app stores.  These actions are all based on China’s new cyber security review system, which is about a year old.Patrick's Books:Statistics For The Trading Floor:  https://amzn.to/3eerLA0Derivatives For The Trading Floor:  https://amzn.to/3cjsyPFCorporate Finance:  https://amzn.to/3fn3rvC Patreon Page: https://www.patreon.com/PatrickBoyleOnFinanceVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatrick on YouTube: Patrick Boyle - YouTube Support the show

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This podcast is all about quantitative finance and financial history. Subscribe to hear about financial markets, derivatives, and how investors use quantitative tools from statistics and corporate finance theory. Included are interviews with some of the most interesting thinkers in finance. Occasional longer form financial documentaries, open up fascinating elements of financial markets history. Patrick Boyle is a quantitative hedge fund manager, a university professor, and a former investment banker. To contact Patrick visit http://onfinance.org Find Patrick on YouTube at: https://www.youtube.com/c/PatrickBoyleOnFinance DISCLAIMER:This podcast is not affiliated with any financial institution. The information provided is for entertainment purposes only and does not constitute financial advice. Those seeking investment advice should seek out a registered professional in their home jurisdiction and confirm their credentials on your national regulator's website. Patrick Boyle is not responsible for any investment actions taken by viewers and his content should not be used as a basis for investment or other financial decisions.