Stock Groups

Didi Global to start work on delisting from New York, to pursue IPO in Hong Kong -Breaking

by Mike Robinson

[ad_1]

© Reuters. On Didi’s headquarters in Beijing (China), July 5, 2021, you can see a sign. REUTERS/Tingshu Wang

SHANGHAI (Reuters). Didi Global, a Chinese ride hailing company, said that after receiving board approval it will begin delisting the New York Stock Exchange and start pursuing a Hong Kong listing.

It stated in a statement that the company would organize a shareholder meeting for the vote on the matter.

Reuters published last week, citing sources who claimed that Didi’s highest executives had been pressured by Chinese regulators for a plan to withdraw from the New York Stock Exchange.

Chinese authorities did not approve of the New York listing of company for $4.4 Billion in July. However, sources told Reuters that it continued with it despite being urged by regulators to stop it from going ahead.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]