Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Politics
Anusuya Lahiri

DiDi Investors To Vote On US Delisting

Didi NYSE United States Alibaba Group Holding Limited Apple DiDi Global Inc Nasdaq Tencent Holding Ltd
  • DiDi Global Inc (NYSE:DIDI) shareholders will vote to delist from the NYSE to get its services back on to Chinese app stores for the first time in almost a year.
  • The plan to delist comes almost a year after the company pushed ahead with a $4.4 billion initial public offering in the U.S. despite objections from Chinese regulators, the Financial Times reports.
  • The company’s board, including representatives from tech groups Alibaba Group Holding Limited (NYSE:BABA), Tencent Holding Ltd (OTC:TCEHY), and Apple Inc (NASDAQ:AAPL) have also backed the measure.
  • Didi’s shares have fallen 90% since its IPO, wiping $60 billion off its market value. 
  • Unable to sign up new users, Didi’s revenues have tumbled, and losses have widened, while lay-offs have added to sagging morale.
  • However, doubts remain whether DiDi would be able to appease the Chinese regulators with the move.
  • Price Action: DIDI shares traded higher by 7% at $1.61 on the last check Monday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Didi Investors to Vote on NY Delisting After Beijing Crackdown
Didi Investors to Vote on NY Delisting After Beijing Crackdown
Didi Global Inc. is widely expected to secure a blessing from shareholders on Monday to delist in New York, capping an 11-month ordeal that wiped out around $60 billion of its market value and turned the ride-hailing giant into a symbol of China’s tech crackdown.
Bloomberg
Bloomberg
Didi shareholders vote to delist from New York stock exchange
Didi shareholders vote to delist from New York stock exchange
Beijing (AFP) - Shareholders of Chinese ride-hailing giant Didi Global voted Monday to delist the company in New York, the firm said in a statement, nearly one year since it was hit by a sweeping tech clampdown.
AFP
AFP
Didi says it will proceed with delisting from NYSE
Didi says it will proceed with delisting from NYSE
The Chinese ride-hailing giant secured approval from its shareholders to delist at a meeting that was held on Monday.
Livemint
Livemint
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
How scratching monkeys can help us understand emotions and consciousness
Scientists Sakumi Iki and Ikuma Adachi recently spent a lot of time watching monkeys scratch themselves.
The Conversation
The Conversation
Iowa law banning books including 1984 and Ulysses blocked by US federal judge
Judge rules that law banning school libraries and classrooms from carrying books depicting sex acts had been applied unconstitutionally
The Guardian - UK
The Guardian - UK
Face taping: Is the viral beauty trend better than Botox?
It’s being touted as a simple anti-ageing technique, but does it work?
The Independent UK
The Independent UK
The One Show’s Alex Jones calls out ‘full of himself’ Hollywood A-list guest
‘I thought, no, no, no, no. Our audience are nice people and, they deserve better than this,’ presenter recalled
The Independent UK
The Independent UK
‘We use food to tell stories, to nourish, and to heal’: On the culinary trail through Mississippi
With a hot tamale trail and the world catfish festival, Mississippi has a culinary scene unlike any other in the States – Yvette Cook travels the Delta region to try some of the greatest soul food dishes and hear the stories that inspired them
The Independent UK
The Independent UK
‘Really like Big Macs’: meet the US man who has eaten a record-extending 35,000 burgers
Donald Gorske, 71, has eaten two of the McDonald’s offering every day since 1972, and holds the Guinness World Record
The Guardian - US
The Guardian - US
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play