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has introduced plans to delist its shares from the New York Inventory Alternate and put together for a list in Hong Kong simply 5 months after the Chinese language ride-hailing large’s U.S. preliminary public providing.
Simply days after the IPO, China’s cybersecurity watchdog launched a probe into Didi (ticker: DIDI) to guard nationwide safety and the general public curiosity. The regulator additionally suspended new consumer registrations on the app in China.
Experiences emerged in July that Didi was considering going private in a transfer to appease Chinese language authorities.
“After cautious research, the corporate will begin the work of delisting from NYSE and provoke preparation for itemizing in Hong Kong with quick impact,” Didi mentioned in a Chinese language assertion on its official Weibo account, the South China Morning Post reported.
In an English language statement, the corporate mentioned its American depository shares (ADS) might be convertible into “freely tradable shares” on one other inventory trade. Didi mentioned it will set up a shareholders assembly to vote on the difficulty.
Shares of Didi fell 6% in premarket buying and selling Friday after the information.
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