Didi is planning a U.S. exit less than a year after arriving. But shareholders have no guarantee of an exit afterwards. The corporate wreck will taint other Chinese firms eyeing the Big Board, says JennHughes13
Chinese ride-hailing firm Didi Global on April 16 announced plans for a shareholder meeting on May 23 to vote on its proposal to delist from the New York Stock Exchange. Its shares fell 18% on Monday to close at $2.01.
Didi raised $4 billion last June in an initial public offering priced at $14 a share, just days before its business was damaged by an investigation by Chinese regulators into its data security. The probe is still underway.People walk past the headquarters building of Chinese ride-hailing service Didi in Beijing, China July 5, 2021. REUTERS/Tingshu Wang - RC24EO91LA7H