By Investing.com Employee

DiDi Global (NYSE: New York) IPO in January was welcomed with great enthusiasm, fanfare and much excitement. But now, the Chinese ride-sharing firm is witnessing its American hopes fade. According to Nikkei Asia reports, Friday will be DiDi’s final day of trading on the NYSE.

This delisting news story isn’t new. DiDi declared on May 23, 2022 that the overwhelming support of shareholders had allowed the resolution to remove the ADSs (ADSs) from the NYSE. But, it is unclear when. However, the company hasn’t yet informed shareholders about the date. Two people who are familiar with the matter said that it was Friday.

The NYSE has its own opinions. A spokesperson from the NYSE stated that “we don’t have any comment” on whether DiDi shares would be removed from market on Friday.

DiDi is a publicly traded company that has experienced a terrible run.

The company priced its initial public offering at $14 and shares traded at $16.65 as of June 30, 2021. Although shares reached an all-time high peak of $18.01 the day before, it’s been a steady decline since that time. The last trade was at $2.37.

Reports surfaced that China was weighing severe penalties against DiDi for violating the U.S. IPO just weeks before the IPO. China’s crackdown against the company continued until recent reports that China would lift the ban on new users, and permit its apps to be re-published in the domestic app store.

The OTC market will no longer allow DiDi Global stock to trade after delisting from the NYSE.