Didi sets shareholder meeting on May 23 to vote on U.S. delisting plans
(Reuters) -Didi International Inc will maintain a unprecedented normal assembly (EGM) on Could 23 to vote on its delisting plans in the US, the Chinese language ride-hailing big stated in an announcement on Saturday.
The corporate additionally stated it won’t apply to checklist its shares on another inventory trade earlier than the delisting of its American Depositary Shares from the New York Inventory Alternate (NYSE) was full.
It added that it’ll proceed to discover acceptable measures that embody exploring a possible itemizing on one other internationally acknowledged trade, it stated.
Didi introduced in December that it will delist from the NYSE and pursue an inventory in Hong Kong after it ran foul of Chinese language regulators by pushing forward with its $4.4 billion U.S. IPO final yr.
Chinese language regulators had urged the agency to place its itemizing on maintain whereas a cybersecurity assessment of its information practices was performed, sources have advised Reuters.
Days after it went forward, the nation’s highly effective our on-line world watchdog ordered app shops to take away 25 cellular apps operated by Didi and advised the corporate to cease registering new customers, citing nationwide safety and the general public curiosity.
China’s securities regulator, in an announcement noting Didi’s Saturday announcement, stated the choice was one which the corporate had made independently and had nothing to do with different U.S.-listed Chinese language shares or ongoing efforts between Chinese language regulators and their U.S. counterparts to resolve an audit dispute affecting U.S.-listed Chinese language companies.
Didi’s complete income for the quarter ended Dec. 31, 2021 fell to 40.8 billion yuan ($6.40 billion) from 46.7 billion yuan a yr earlier, the corporate stated in a separate assertion additionally issued on Saturday.
($1 = 6.3705 Chinese language yuan renminbi)
(Reporting by Jahnavi Nidumolu in Bengaluru and Brenda Goh in Shanghai, Enhancing by Franklin Paul and David Evans)
