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Didi sets shareholder meeting to vote on U.S. delisting plans -Breaking

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© Reuters. On the New York Stock Exchange’s floor, Didi Global is trading information. This screen was displayed in New York City on December 3, 2021. REUTERS/Brendan McDermid

(Reuters) – Didi Global Inc (EGM), will meet on Tuesday, May 23, to discuss its plans for delisting in the United States. The company released a statement Saturday.

The Chinese ride-hailing company also stated that it would not submit for listing on another stock exchange its shares before delisting its American Depositary Shares (“ADSs”) from the New York Stock Exchange.

After Didi’s June listing on the NYSE, Chinese authorities have criticized Didi. They demanded that it be removed from all mobile apps stores, while Cyberspace Administration of China inspected its website. ()It was investigated on how it handled customer data.

Didi decided, in December 2021, to remove herself from the U.S. list and go after a Hong Kong listing.

It stated that the company would continue to investigate appropriate measures, including potential listings on an international recognized exchange.

Didi’s quarter-end revenues fell to 40.8bn yuan ($6.40 billion), from 46.7bn a year ago.

($1 = 6.3705 renminbi)

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