Translator: 文煌

Photo:Peoples Gazette & Athena Design Group

On May 23, the Chinese online car platform DIDI informed the New York Stock Exchange that it would move forward with its delisting plan and file a delisting Form 25 with the SEC on or after June 2. It is expected that DIDI will delist ten days after filing Form 25. DIDI shareholders have already voted on the delisting plan, with 781 million votes in favor and 30,374,800 votes against.

On Dec. 3 last year, DIDI said it would delist from the New York Stock Exchange and seek a listing in Hong Kong. The news was later officially announced on Weibo.

DIDI was listed on the New York Stock Exchange on June 30, 2021, priced at $14 per share, the largest IPO of a Chinese company after Alibaba went public in the U.S. in 2014, and was subsequently investigated by the Chinese Communist Party’s State Internet Information Office. Four days after its U.S. listing, 25 of its apps were removed entirely from the Chinese Communist Party.

The sources said Chinese Communist regulators had pressured top executives of DDT to develop a plan to delist from the New York Stock Exchange over concerns about data security.

Original link: DIDI notifies NYSE that it will delist

Edited by: Lish

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