(Didi) Didi Global Inc. says it will proceed with the company’s plan to exit the New York Stock Exchange after 96% of shareholders favored the move in a vote.
Didi says the approval to delist from NYSE will help the company to move forward after a long period of entanglement with Beijing. The ride-hailing firm had intended to earn the delisting approval before addressing its cybersecurity investigation in China.
Didi said it had notified the NYSE of the intention to delist and will file a notification with the Securities and Exchange Commission on or after June 2.
Plans to delist from the US started in December, with the ride-sharing company hinting at securing a Hong Kong debut.
Didi’s troubles have seen the stock drop from its June 30 IPO of $14, while its fourth-quarter sales fell 12.7% from last year. The decline follows a security investigation by Chinese investors after listing on the NYSE.
DIDI: NYSE is up 2.00%
