Didi Begins Plan for U.S. Delisting, Hong Kong Share Sale
- Ride-hailing firm has come under pressure from regulators
- Company is said to target filing for H.K. sale around March
This article is for subscribers only.
Didi Global Inc. began preparations to withdraw from U.S. stock exchanges, a stunning reversal following demands from Chinese regulators that had opposed its American listing.
The ride-hailing giant’s board has authorized the company to file for a delisting of its American depositary shares from the New York Stock Exchange, it said in a statement Thursday. It will pursue a listing in Hong Kong and ensure that the U.S. stock will be convertible into freely tradable shares on another internationally recognized stock exchange.