Timeline: Didi Global's short-lived journey as a U.S.-listed company

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The logo for Chinese ride-hailing institution Didi Global Inc is pictured astatine the New York Stock Exchange (NYSE) level successful New York City, U.S., June 30, 2021. REUTERS/Brendan McDermid/File Photo

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HONG KONG, Dec 3 (Reuters) - Didi Global (DIDI.N) said connected Friday it volition delist from the New York banal speech and prosecute a listing successful Hong Kong, the latest improvement aft it ran afoul of Chinese regulators by pushing up with its $4.4 cardinal U.S. IPO successful July.

Didi's determination to delist successful the U.S. comes arsenic a deepening regulatory crackdown wiped billions of dollars disconnected the ride-hailing giant's valuation. [ work much

Following are cardinal events since Didi publically announced its volition to database successful the United States:

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June 11 - Beijing-based Didi makes nationalist the filing for its U.S. listing, mounting the signifier for what is expected to beryllium the world's biggest archetypal nationalist offering of 2021.

June 17 - Reuters reports that China's marketplace regulator has begun an antitrust probe into Didi, citing 3 radical with cognition of the matter.

The probe, the latest successful a sweeping crackdown connected China's alleged "platform" companies, is investigating whether Didi utilized immoderate competitory practices that squeezed retired smaller rivals unfairly, and whether the pricing mechanics utilized by Didi's halfway ride-hailing concern is transparent enough, sources said.

June 30 - Didi raises $4.4 cardinal successful its IPO, pricing it astatine the apical of its indicated scope and expanding the fig of shares sold, giving it a valuation of $73 cardinal connected a afloat diluted ground and $67.5 cardinal connected a non-diluted basis.

The shares extremity their archetypal time of trading somewhat supra the IPO price.

July 2 - The Cyberspace Administration of China (CAC) says it has launched an probe into Didi to support nationalist information and the nationalist interest, and that Didi was not allowed to registry caller users during the probe, sending Didi shares lower.

Didi says it plans a broad introspection of cybersecurity risks and would cooperate afloat with the applicable authorities authority.

July 4 - The CAC orders Chinese app stores to halt offering Didi's app aft uncovering that the steadfast had illegally collected users' idiosyncratic data.

Didi says it had stopped registering caller users and would region its app from app stores, arsenic good arsenic making changes to comply with rules and support users' rights. It says the determination whitethorn wounded its revenue.

July 5-6 - Didi says it was unaware earlier its IPO that the CAC would motorboat a cybersecurity probe oregon bid a halt successful China to caller idiosyncratic registrations and a suspension of app downloads.

Didi shares autumn arsenic overmuch arsenic 25% successful the archetypal U.S. trading league since Chinese regulators ordered its app disconnected mobile app stores successful China.

July 8 - Medical information radical LinkDoc Technology (LDOC.O) becomes the archetypal Chinese institution to propulsion backmost from plans to database successful the United States aft regulators started an probe into Didi.

July 30 - The U.S. Securities and Exchange Commission says it volition not let Chinese companies to rise wealth successful the United States unless they afloat explicate their ineligible structures and disclose the hazard of Beijing interfering successful their businesses.

Aug 10 - SoftBank (9984.T) says it volition intermission its investing successful China arsenic it waits for regulatory enactment against the country's tech firms to play out.

Aug 11 - Autonomous driving startup Pony.ai suspends its program to spell nationalist successful New York done a merger with a blank-check steadfast astatine a $12 cardinal valuation, aft it failed to summation assurances from Beijing that it would not go a people of a crackdown against Chinese exertion companies, radical acquainted with the substance say.

Aug 27 - China is framing rules to prohibition net companies whose information poses imaginable information risks from listing extracurricular the country, including successful the United States, according to a idiosyncratic acquainted with the matter.

Sept 2 - Chinese regulators summon 11 ride-hailing firms including Didi, Geely's (GEELY.UL) Caocao and Meituan's (3690.HK) ride-hailing portion to sermon points of concern.

Sept 3 - The metropolis of Beijing is considering taking Didi nether authorities control, Bloomberg News reports. work much

Sept 4 - Didi denied reports that the Beijing metropolis authorities is coordinating companies to put successful it. work much

Sept 7 - Beijing metropolis authorities told Reuters successful a faxed connection it was not advising companies to put successful Didi. work much

Sept 8 - China's Ministry of Transport said it would ace down connected amerciable behaviour successful the country's ride-hailing industry.

Sept 10 - Chinese authorities officials told starring transportation and ride-hailing companies including Didi, Meituan (3690.HK), Alibaba Group's (9988.HK) Ele.me and Tencent Holdings (0700.HK), to amended however they distributed incomes and guarantee remainder periods for workers. work much

Sept 20 - Didi co-founder and President Jean Liu has told immoderate adjacent associates that she intends to measurement down, Reuters reported. work much

Sept 30 - China published caller draught measures aimed astatine bolstering its caller information information law, including definitions of what it considered "core" and "important" data. work much

Oct 21 - China's cybersecurity watchdog suggested Didi and 2 different U.S.-listed tech companies research listings successful Hong Kong, the Wall Street Journal reported. work much

Oct 29 - CAC published draught guidelines that volition taxable companies with much than 1 cardinal users successful the state to a information reappraisal earlier they tin nonstop user-related information abroad. work much

Nov 8 - SoftBank Group Corp (9984.T) valued its Didi involvement astatine $7.5 billion, 40% beneath acquisition cost.

Nov 11 - Didi was preparing to relaunch its ride-hailing and different apps successful China by the extremity of the twelvemonth successful anticipation that Beijing's probe into the institution volition beryllium wrapped up by then, Reuters reported.

Nov 14 - CAC published draught rules that would necessitate companies pursuing stock listings successful Hong Kong to use for cybersecurity inspections if they grip information that concerns nationalist security. Large net platforms readying to acceptable up headquarters, operating oregon probe centres overseas should besides taxable a study to regulators, CAC said. work much

Nov 26 - Chinese regulators person pressed apical executives of Didi to devise a program to delist from the New York Stock Exchange owed to concerns astir information security, sources said.

Dec 3 - Didi announced program to delist from New York and question a Hong Kong listing. work much

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Reporting by Kane Wu; Editing by Sumeet Chatterjee

Our Standards: The Thomson Reuters Trust Principles.

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