The company known for moving people in China, is now heading out of the US.
In less than a year since its US initial public offering IPO in June, Chinese ride-hailing group Didi Chuxing Didi announced on Chinese blogging website, Weibo, its plans to delist from New York as well as preparation to reissue its shares in Hong Kong. The announcement on December 3 follows months of regulatory scrutiny from Beijing that has seen Didi’s market value be wiped out by more than half, and the launch of a probe into its collection of personal information.
Didi’s delisting speaks volumes for the sector and adds...
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