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Ride-hailing giant Didi exits New York stock exchange, bowing to regulatory pressure from China

December 4, 2021
Source: newsday24.com newsday24.com
News Snapshot:
Just five months after its debut, ride-hailing giant Didi Global said it plans to withdraw from the New York Stock Exchange and pursue a Hong Kong listing, a stunning reversal as it bends to Chinese regulators angered by its US IPO. The company’s shares were down around 15% after swinging between gains and losses in premarket trading as investors initially bet the move would appease Beijing and serve as a catalyst for a revival of its business prospects at home. “Following careful research, the company will immediately start delisting on the New York stock exchange and start preparations for listing...
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