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Didi shareholders approve delisting from NYSE
The company said that around 96% of the shareholders agreed with the plan
• The company said that around 96% of the shareholders agreed with the plan
Chinese ride-hailing company Didi Global Inc (NYSE: DIDI) said its shareholders approved the plan to delist from the New York Stock Exchange, less than a year after the company listed its shares in the US.
This comes after the Chinese regulators’ crackdown on the tech companies in the country.
The company said that around 96% of the shareholders agreed with the plan to delist from NYSE adding that it won’t apply to list its shares on another exchange until the probe in China is complete.
China had launched a probe into the company after its shares started trading on June 30. Regulators ordered Didi to suspend new user registration and took down some of its popular apps.
Didi’s New York-listed ADRs declined 4% on Monday at $1.44 a share.
The fourth-quarter revenue of the company fell 12.7% from the same period a year earlier, Didi said last month.
Picture Credits: Reuters
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