original

Didi Shareholders Vote to Delist from the U.S. Stock Market

Garrett_Li

Garrett_...

· 5月24日

The company’s shareholders voted on Monday for the company to delist from the U.S. stock market to get Didi’s services back to Chinese app stores after being removed about nine months ago. Didi’s delisting decision will become effective ten days after the submission of its delisting application.

BEIJING, May 23 (TMTPOST) — Chinese mobility service provider Didi Chuxing (NYSE: DIDI) has informed the New York Stock Exchange of its delisting decision. 

The company’s shareholders voted on Monday for the company to delist from the U.S. stock market to get Didi’s services back to Chinese app stores after being kicked out last August. Didi’s delisting decision will become effective ten days after the submission of its delisting application.

To comply with China's cybersecurity regulations, Didi will not apply for a public listing on another stock market prior to the completion of the delisting, the company said in the announcement.

Didi also said that the delisting will benefit the shareholders and help the company resume normal operation and improve performance. The company might seek a public listing on a different stock market following the resumption of normal operations.

The company announced in December 2021 that it would start the delisting process on the New York Stock Exchange and work to be listed in Hong Kong.

Didi shares rose by nearly 1% in the U.S. after trading started on Monday, setting the company’s valuation at around US$7.38 billion. Didi’s shares have plummeted by 90% since its IPO, losing US$60 billion in market value.

Didi has not been able to sign up new users since the Chinese government launched a cybersecurity crackdown on the country’s tech sector just days after Didi’s IPO. Didi’s mobile application was banned from mobile application marketplaces in China for illegally acquiring users’ personal information. Didi’s revenues have been shrinking since the crackdown.

However, Didi is uncertain whether its proposed rectification measures, including delisting, would allow it to resume normal operation.

Founded in 2012, Didi is a Chinese vehicle for hire company headquartered in Beijing. As of December 2021, Didi Chuxing led the ride-hailing apps in China with roughly 58 million monthly active users, outstripping the second placeholder, Hello Chuxing, by more than double its user base.

本文系作者Garrett_Li授权钛媒体发表,并经钛媒体编辑,转载请注明出处、作者和本文链接
本文观点仅代表作者本人,钛媒体平台仅对用户提供信息及决策参考,本文不构成投资建议。
想和千万钛媒体用户分享你的新奇观点和发现,点击这里投稿 。创业或融资寻求报道,点击这里

敬原创,有钛度,得赞赏

”支持原创,赞赏一下“
钛粉97884 钛粉97003 钛粉97388 钛粉11323 钛粉97508 钛粉36186
533人已赞赏 >
533换成打赏总人数533人赞赏钛媒体文章
关闭弹窗

挺钛度,加点码!

  • ¥ 5
  • ¥ 10
  • ¥ 20
  • ¥ 50
  • ¥ 100

支付方式

确认支付
关闭弹窗

支付

支付金额:¥6

关闭弹窗
sussess

赞赏金额:¥ 6

赞赏时间:2020.02.11 17:32

关闭弹窗 关闭弹窗

注册邮箱未验证

我们已向下方邮箱发送了验证邮件,请查收并按提示验证您的邮箱。

如果您没有收到邮件,请留意垃圾邮件箱。

更换邮箱

您当前使用的邮箱可能无法接收验证邮件,建议您更换邮箱

账号合并

经检测,你是“钛媒体”和“商业价值”的注册用户。现在,我们对两个产品因进行整合,需要您选择一个账号用来登录。无论您选择哪个账号,两个账号的原有信息都会合并在一起。对于给您造成的不便,我们深感歉意。