DiDi Investors To Vote On US Delisting

DiDi Global Inc DIDI shareholders will vote to delist from the NYSE to get its services back on to Chinese app stores for the first time in almost a year.
The plan to delist comes almost a year after the company pushed ahead with a $4.4 billion initial public offering in the U.S. despite objections from Chinese regulators, the Financial Times reports.
The company’s board, including representatives from tech groups Alibaba Group Holding Limited BABA, Tencent Holding Ltd TCEHY, and Apple Inc AAPL have also backed the measure.
Didi’s shares have fallen 90% since its IPO, wiping $60 billion off its market value.
Unable to sign up new users, Didi’s revenues have tumbled, and losses have widened, while lay-offs have added to sagging morale.
However, doubts remain whether DiDi would be able to appease the Chinese regulators with the move.
Price Action: DIDI shares traded higher by 7% at $1.61 on the last check Monday.