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DiDi withdraws from Wall Street

Chinese ride-sharing service provider DiDi Chuxing plans to withdraw from Wall Street just five months after its IPO in New York. Following the announcement, DiDi shares fell by more than 22 percent on Friday to a price of $6, significantly less than at the stock market debut at the end of June. The issue price at the time was $14. The company had raised around $4.4 billion at the time. This was the largest IPO of a Chinese group in the US since the IPO of e-commerce giant Alibaba.

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