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OFFON

DIDI GLOBAL INC.

(DIDI)
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Ant-backed Hello Inc says goodbye to U.S. IPO plans

07/27/2021 | 01:53pm EDT

(Reuters) - China's Hello Inc, an app-based ride services provider backed by Jack Ma's Ant Group, on Tuesday scrapped plans for an initial public offering in the United States against the backdrop of a regulatory crackdown on U.S.-listed Chinese companies.

Hello, which offers services in China including two-wheeler services and a carpooling marketplace, said it no longer wishes to publicly float its shares in the United States, according to a regulatory filing. (https://bit.ly/3iXKIuf)

A top official at the U.S. Securities and Exchange Commission (SEC) said on Tuesday that Chinese companies listed on exchanges in the United States must disclose, as part of regular reporting obligations, any risks related to the Chinese government interfering in their business.

These comments come after Chinese authorities launched a cybersecurity review into ride-hailing giant Didi Global Inc, which was valued at $68 billion after its New York Stock Exchange debut late last month.

China has also come up with new rules for private tutoring that has left private education firms facing a significant business impact, as Beijing steps up regulatory oversight of a $120 billion industry.

Certain Chinese IPOs in the U.S. are halted at the moment as they are awaiting guidance from the SEC, a source close to the matter said.

(Reporting by Sohini Podder in Bengaluru and Echo Wang in North Carolina; Editing by Shounak Dasgupta)


ę Reuters 2021
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Analyst Recommendations on DIDI GLOBAL INC.
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Financials
Sales 2021 195 B 30 083 M 30 083 M
Net income 2021 -1 503 M -232 M -232 M
Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 -
Capitalization 242 B 37 380 M 37 380 M
Capi. / Sales 2021 1,24x
Capi. / Sales 2022 1,04x
Nbr of Employees 15 914
Free-Float -
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Technical analysis trends DIDI GLOBAL INC.
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Mean consensus BUY
Number of Analysts 1
Last Close Price 50,11 CNY
Average target price 162,07 CNY
Spread / Average Target 223%
Managers and Directors
Wei Cheng Chairman & Chief Executive Officer
Qing Liu President & Director
Yue Zhuo Chief Financial Officer
Bo Zhang Chief Technology Officer
Rui Wu Vice President-Risk Control & Compliance
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