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.