After the specter of delisting loomed lengthy, DiDi International Inc. (NYSE: DIDI) lastly succumbed to regulatory stress and introduced delisting from NYSE.
What Occurred: Chinese language ride-hailing big introduced in a press release late Thursday its board has licensed the corporate to undertake vital procedures and file related purposes for delisting its ADSs from the NYSE.
Life has come a full circle for DiDi, which had a high-profile debut within the U.S. in late June. The corporate went public within the U.S. by providing 316.8 million shares at $14 apiece, elevating about $4.4 billion.
Since then, the shares haven’t taken off and continued beneath stress because the Chinese language regulatory crackdown hung like a Damocles’ sword over it.
Chinese language regulators eyed DiDi’s U.S. itemizing as willful disobedience as the corporate had gone forward regardless of opposition from Beijing. In China, a number of regulatory our bodies started probing into