Didi Global – Chinese ride hailing giant in announced on Friday, to delist from the New York stock exchange (Nasdaq) and pursue listing in the Hong Kong.
Didi came under regulatory scrutinity since ahead of it $4.4 billion IPO in July this year. Recently, Chinese authorities had formally asked the company to delist from the Nasdaq citing data security fears.
The company made the announcement first on its Weibo account. It said, “Following careful research, the company will immediately start delisting on the New York stock exchange and start preparations for listing in Hong Kong,”.
In a separate English language statement, the company said the board approved the move.
“The company will organize a shareholders meeting to vote on the above matter at an appropriate time in the future, following necessary procedures,” it said.