Didi Global to vote on US delisting next month, says no new listing plan before NYSE exit

  • Beijing-based firm says it will not apply for another flotation before completing its delisting from the New York Stock Exchange
  • The riding-hailing giant must cooperate further with China’s cybersecurity regulators and conduct rectifications

Didi’s headquarters in Beijing. The delisting, the cybersecurity investigation and lack of immediate relisting plans could deal a heavy blow to the firm’s value and even undermine investor confidence in Chinese stocks. Photo: Reuters
Shareholders of Didi Global, the Chinese ride-hailing giant under investigation for cybersecurity breaches, are expected to vote to delist from the US at a special meeting on May 23, a move that shows Beijing’s tough regulatory crackdown is still casting a long shadow over the country’s tech sector.
The Beijing-based firm, which was put under investigation days after its US$4.4 billion initial public offering (IPO) on June 30 last year, said in a statement on Saturday that it would not apply for another listing on any other exchange before completing its delisting from the New York Stock Exchange. In a statement issued in December, Didi had said that it would delist from New York and pursue a listing in Hong Kong.
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