© Reuters. DiDi (DIDI) Shareholders Vote to Delist From NYSE
By Senad Karaahmetovic
Didi Global (NYSE:) shareholders voted to delist the company from the New York Stock Exchange today.
DiDi said it will now file the required paperwork with the SEC to delist on or after June 2. Shares had initially fallen 12% in pre-open before rising 11%. Minutes after the New York open, shares are trading flat.
The delisting will allow DiDi to work closer with Chinese regulators and address their concerns. The company went public in a blockbuster IPO before losing roughly 90% of its market value.
The Bloomberg data shows that hedge funds have already reduced their Didi holdings by 29% to about $231.9 million in Q1.
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