New York Chinese Uber rival Didi Chuxing, who has come under heavy pressure from China’s regulators, has announced steps to withdraw from the New York Stock Exchange. As the company announced, the delisting should begin as soon as the board of directors has given its approval. Voting should take place later at a shareholders’ meeting. At the same time, a listing on the Hong Kong stock exchange will be sought.
The transport service broker was targeted by Chinese regulators just a few days after its IPO in the summer, who reportedly wanted to prevent Didi from going public abroad.
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