TRIVIUM HAS IT LEAKED DRIVERS

Listing in Hong Kong is seen as a hedge against the risk of being removed from US exchanges and a way of accessing an investor base closer to their home markets.ДЄs well as domestic pressure, Chinese companies will face fresh scrutiny onВ Wall Street exchanges. Several US-listed China tech companies, such as Alibaba, have held initial public offerings in Hong Kong over the past two years as the United States has stepped up scrutiny of Chinese firms. She said that, from now on, 'all Chinese tech firms will take data security issues seriously'. 'However, Didi didn't listen and went ahead anyway, so the regulators taught the firm a hard lesson.' Government agencies also launched inspections at its offices over 'national security' fears, reportedly worried about sensitive data being leaked overseas.Дidi was 'advised by Chinese regulators to get listed in Hong Kong rather than New York due to data security issues', said Angela Zhang, associate professor of law at the University of Hong Kong.

TRIVIUM HAS IT LEAKED DRIVERS

It has dominated the local ride-hailing market since it won a costly turf war against US titan Uber inВ 2016, and its app claims to have more than 15 million drivers and nearly 500 million users.Д«ut the month after the US listing its service was ordered off Chinese app stores. The ride-hailing firm's IPO in June was quickly overshadowed by an investigation by China's internet watchdog on the grounds of cybersecurity - news that came just days after the listing that sent the shares plunging.Дidi - which reportedlyВ ploughed ahead with the US listing against instructions from Beijing - has been hit especially hard by a state clampdown on tech companies. 'After careful consideration, (Didi) will start the process of delisting from the New York Stock Exchange from today, and start preparations for listing in Hong Kong,' the company said in a statement on social media. Delisting could form part of a raft of punishments for Didi, which infuriated Chinese officials by ploughing ahead with its US IPO despite pushback from BeijingД¬hinese ride-hailing giant Didi Chuxing said Friday it would start the process of delisting its shares from the New York stock exchangeВ and prepare a Hong Kong listing, shortly after US regulators adopted a rule that would allow them to remove foreign firms.Дidi's move comes in the wake of a sweeping Chinese regulatory crackdown in the past year that has clipped the wings of major internet firms wielding huge influence on consumers' lives - including Alibaba and Tencent - and just months after its mammoth New York debut.

Trivium has it leaked