Chinese-ride railing giant Didi Global Inc. stated it would go ahead with its plan to delist from the New York Stock Exchange after getting shareholders’ approval.
Source: DiDi Global
DIDI up +2.00%, BABA up +0.24%
Some 96% of shareholders voted in favor of the delisting plan. They included Didi’s founders Will Cheng and Jean Liu, who had initially indicated that they would vote on a one-voter-per-share basis.
Didi’s American depositary receipts have plummeted from their initial public offering price of $14 less than a year earlier, plunging many US investors into huge losses.
The company informed shareholders it needed to delist before resolving an ongoing cybersecurity investigation in China.