China app large Didi plans US inventory market exit in transfer to Hong Kong

Chinese language ride-hailing large Didi International has introduced plans to take its shares off the New York Inventory Trade (NYSE) and transfer its itemizing to Hong Kong. The agency has come beneath intense strain since its US debut in July.

Inside days of the preliminary public providing (IPO) Beijing introduced a crackdown on expertise corporations itemizing abroad.
Earlier on Thursday the US market watchdog unveiled powerful new guidelines for Chinese language corporations that listing in America.
“Following careful research, the company will immediately start delisting on the New York stock exchange and start preparations for listing in Hong Kong,” the corporate stated on its account on Weibo, China’s Twitter-like microblogging community.
In a separate English language assertion Didi stated its board had authorized the transfer, including: “The company will organise a shareholders meeting to vote on the above matter at an appropriate time in the future, following necessary procedures.”

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