Could China's Impending Regulations Jeopardize Alibaba-Backed Ant Or TikTok's IPO Ambitions?

Chinese regulators are targeting to force data-rich companies to hand over management and supervision of their data to third-party firms in return for their U.S. stock listings, Reuters reports.
China expects to restrict the transfer of Chinese onshore data overseas, easing their national security concerns.
China's Uber Technologies UBER counterpart DiDi Global Inc DIDI had to reduce its IPO valuation following its internet firm crackdown. It also had to remove 25 apps over cybersecurity concerns.
Didi is now in discussions with China's Westone Information Industry Inc to manage its data management and monitoring activities, gaining access to Didi's servers across the country to track the latter's data.
The regulations will also be a significant deciding factor for Alibaba Group Holding Ltd BABA-backed Ant Group's impending IPO or the growingly popular ByteDance Ltd-owned TikTok IPO.
Chinese companies, including Bilibili Inc BILI, NIO Inc NIO, and XPeng Inc XPEV, have already exhibited an appetite for dual listing.
Internet stocks ranging from DiDi, Alibaba, Baidu Inc BIDU, Tencent Holdings Ltd TCEHY, Bilibili continue to raise investor concern following China's internet regulations and the latest General Data Protection Regulation equivalent pending clarity.
Price Action: BABA shares closed lower by 1.57% at $157.96 on Friday.