Chinese ride-hailing giant Didi to delist from NYSE and move to Hong Hong Stock Exchange
, the largest ride-hailing provider in China, said it will delist from the New York Stock Exchange and move its shares to the Hong Kong Stock Exchange, bowing to months of pressure from the Chinese government.that its board of directors authorized and supports Didi pursuing the necessary procedures to delist its American Depository Shares from the NYSE.
Didi noted that the ADSs"will be convertible into freely tradable shares of the Company on another internationally recognized stock exchange at the election of ADS holders." The directors authorized the company to pursue a listing of its Class A ordinary shares on the main board of the Hong Kong Stock Exchange, according to the statement.
Last month, the Cyberspace Administration of China asked Didi to delist from the US exchange out of concern over possible leaks of sensitive data,
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