Didi sets shareholder meeting on May 23 to vote on U.S. delisting plans
12:55 JST, April 17, 2022
April 16 (Reuters) — Didi Global Inc. will hold an Extraordinary General Meeting (EGM) on May 23 to vote on its delisting plans in the United States, the Chinese ride-hailing giant said in a statement on Saturday.
The company also said it will not apply to list its shares on any other stock exchange before the delisting of its American Depositary Shares from the New York Stock Exchange (NYSE) was complete.
It added that it will continue to explore appropriate measures that include exploring a potential listing on another internationally recognized exchange, it said.
Didi announced in December that it would delist from the NYSE and pursue a listing in Hong Kong after it ran foul of Chinese regulators by pushing ahead with its $4.4 billion U.S. IPO last year.
Chinese regulators had urged the firm to put its listing on hold while a cybersecurity review of its data practices was conducted, sources have told Reuters.
Days after it went ahead, the country’s powerful cyberspace watchdog ordered app stores to remove 25 mobile apps operated by Didi and told the company to stop registering new users, citing national security and the public interest.
China’s securities regulator, in a statement noting Didi’s Saturday announcement, said the decision was one that the company had made independently and had nothing to do with other U.S.-listed Chinese stocks or ongoing efforts between Chinese regulators and their U.S. counterparts to resolve an audit dispute affecting U.S.-listed Chinese firms.
Didi’s total revenue for the quarter ending Dec. 31, 2021 fell to 40.8 billion yuan ($6.40 billion) from 46.7 billion yuan a year earlier, the company said in a separate statement also issued on Saturday.
"NEWS SERVICES" POPULAR ARTICLE
Japanese Actor-Director Kitano Says His New Film Explores Homosexual Relations in the Samurai World
Japan’s Nikkei Muted; Set to Post First Weekly Drop in Five as Tech Stocks Drag
Japan’s Nikkei Pares Early Gains as Investors Lock in Profits
Japan’s Nikkei Up Sharply as Chip-Related Stocks Rally (Update 1)
Israel Searches for Traces of Hamas in Raid of Key Gaza Hospital Packed with Patients
JN ACCESS RANKING
- Exports of Nishikigoi Carp to China Halted; Permits for Japanese Aquaculture Facilities By China Have Expired
- Japan’s Economy Contracts as Demand Wanes
- AI-generated Child Porn Floods Japan-based Website (Update 1)
- BOJ Member Sought Tweak in Easing
- Bears Sighted in Tokyo Suburbs, Including near Mt. Takao (Update 1)