Chinese authorities intend to fine the Didi aggregator $1 billion and end a data security investigation against it. After that, the company will be able to list shares on the Hong Kong Stock Exchange.
The Wall Street Journal writes about Chinese authorities' plans to fine the Didi taxi aggregator in the amount of more than a billion dollars. The $1 billion amount is 4% of the company's revenue in 2021, when Didi earned $27.3 billion.
The fine marks the end of an investigation into Didi that has lasted more than a year. The company was accused of improper storage of personal data of Chinese users.
Even due to complaints from the authorities, Didi delisted securities from the US stock exchanges, where they fell by 80% of the price after the initial placement. The newspaper notes that after the completion of the investigation, the company will be allowed to list on the Hong Kong stock exchange.
Author:
Kirill Bilyk
Source: RB
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