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

© 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.

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.