ADRs of ride-hailing giant Didi Global (NYSE:DIDI) climbed more than 13% in Friday’s premarket after it revealed its plans to delist from the New York Stock Exchange, a move aimed at placating Chinese regulators. "Following careful research, the company will immediately start delisting on the New York stock exchange and start preparations for listing in Hong Kong," Didi said on the Weibo (NASDAQ:WB) micro-blogging site, according to Reuters. Didi listed on the NYSE on June 30, ignoring the advice of the authorities in China that it delay its public debut, pending scrutiny of its data handling practices.
Chinese social media firm Weibo Corp plans to price its shares at HK$272.8 ($35.01) each to raise $385 million in its Hong Kong secondary listing, said three sources with direct knowledge of the matter. Weibo did not immediately respond to a request for comment. Weibo's U.S. shares endured a torrid night on Wednesday as they were caught up in the broad selloff nL1N2SM35K across the equities market which unfolded on fears about the Omicron coronavirus variant.
BEIJING (Reuters) -Security officials in one of China's largest provinces have commissioned a surveillance system they say they want to use to track journalists and international students among other "suspicious people", documents reviewed by Reuters showed. A July 29 tender document published on the Henan provincial government’s procurement website - reported in the media for the first time - details plans for a system that can compile individual files on such persons of interest coming to Henan using 3,000 facial recognition cameras that connect to various national and regional databases. A 5 million yuan ($782,000) contract was awarded on Sept. 17 to Chinese tech company Neusoft, which was required to finish building the system within two months of signing the contract, separate documents published on the Henan government procurement website showed.