Why Didi’s crackdown signals a bumpy ride for Chinese deals heading to New York

Beijing has modified capital market rules to nurture home-grown innovators looking to go public. But the probe against Didi may signal an inflection point that brings deals back from overseas.

Talk about hitting the brakes. At the start of the month, China’s internet regulator opened a cybersecurity probe into ride-hailing group Didi only a few days after the company raised more than USD $4 billion in a New York initial public offering (IPO).

¬ Haymarket Media Limited. All rights reserved.

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