{"id":39641,"date":"2022-06-06T23:54:10","date_gmt":"2022-06-06T23:54:10","guid":{"rendered":"https:\/\/harchi90.com\/didi-stock-jumps-50-on-report-that-chinas-probe-is-ending\/"},"modified":"2022-06-06T23:54:10","modified_gmt":"2022-06-06T23:54:10","slug":"didi-stock-jumps-50-on-report-that-chinas-probe-is-ending","status":"publish","type":"post","link":"https:\/\/harchi90.com\/didi-stock-jumps-50-on-report-that-chinas-probe-is-ending\/","title":{"rendered":"Didi stock jumps 50% on report that China’s probe is ending"},"content":{"rendered":"
Shares of those companies jumped 27% and 21% in premarket trade on Monday, respectively. Didi, Full Truck Alliance and Kanzhun did not immediately respond to a request for comment.<\/p>\n
The conclusion of the cybersecurity review comes too late to save Didi from an ignominious retreat from Wall Street just a year after it listed, and will have further consequences for the company.<\/p>\n
All three companies are set to be fined, with the largest levy against Didi, sources told the Journal.<\/p>\n
They will also be expected to hand over 1% in equity to Chinese authorities, giving the government an official role in decisions, according to the newspaper.<\/p>\n
The news caps a dramatic year for what was once one of China’s most celebrated and valuable companies.<\/p>\n
Didi launched a blockbuster initial public offering in the United States last June, raising $ 4.4 billion.<\/p>\n