China to Wrap Probe into Didi Soon as This Week, WSJ Says
The three companies are expected to face financial penalties, including a relatively large fine for Didi, the report cited some of the people as saying. All three will also offer to transfer 1% of their shares to the state, giving officials greater say in running the business, the Journal reported. Didi representatives didn’t immediately respond to requests for comment.
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The Journal’s report coincides with expectations that the government is pumping the brakes on its year-long crackdown on tech, to avoid further damaging the economy.
It’s unclear how that would affect its delisting or future IPO plans. Didi has secured the blessing of shareholders to delist from the New York Stock Exchange soon — allowing the company to begin preparing for a Hong Kong share float, the best outcome investors have said they can hope for.
I honestly don't know exactly why it's jumping so much. Still seems the possibility of financial penalties – including fines are still possible. The probe is ending – great! But, still doesn't really provide much clarity going forward.
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