Didi Global Inc. plans to delist from the U.S. and pursue a listing in Hong Kong, a move its board supports, the Chinese ride-hailing group said Thursday, as authorities in Beijing wrap up a cybersecurity probe into the company.
The announcement follows months of turbulence for Didi, which listed on the New York Stock Exchange on June 30 after raising about $4.4 billion from an initial public offering.
Shortly...
Didi Global Inc. plans to delist from the U.S. and pursue a listing in Hong Kong, a move its board supports, the Chinese ride-hailing group said Thursday, as authorities in Beijing wrap up a cybersecurity probe into the company.
The announcement follows months of turbulence for Didi, which listed on the New York Stock Exchange on June 30 after raising about $4.4 billion from an initial public offering.
Shortly after the IPO, Chinese authorities, taken by surprise by Didi’s move to go public, said they were conducting a data-security review. Chinese regulators also blocked Didi’s China business from adding new users and ordered it to take down some apps.
“The Company will organize a shareholders meeting to vote on the above matter at an appropriate time,” Didi said in a statement.
The Wall Street Journal reported in July that Didi was considering going private to placate Chinese authorities. It also reported in October that China’s internet watchdog has suggested that Didi explore a listing in Hong Kong.
Write to Yoko Kubota at yoko.kubota@wsj.com
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December 03, 2021 at 09:02AM
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Didi Global Plans to Delist From New York Stock Exchange - The Wall Street Journal
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