Didi says it will proceed with delisting from NYSE
Summary
- The Chinese ride-hailing giant secured approval from its shareholders to delist at a meeting that was held on Monday.
Chinese ride-hailing giant Didi Global Inc. said it would proceed with its plan to delist from the New York Stock Exchange, after securing approval from its shareholders at a meeting on Monday.
Some 96% of shareholders who cast votes at the meeting were in favor of the delisting proposal, the company said Monday. They included Didi’s founders Will Cheng and Jean Liu, who had earlier indicated that they would vote on a one-vote-per-share basis.
Didi’s American depositary receipts have plunged from their initial public offering price of $14 less than a year ago, saddling many U.S. investors with heavy losses. The company told shareholders it needed to delist before it can resolve an ongoing cybersecurity probe in China.
This story has been published from a wire agency feed without modifications to the text
