China app large Didi plans US inventory market exit in transfer to Hong Kong

Inside days of the preliminary public providing (IPO) Beijing introduced a crackdown on know-how corporations itemizing abroad.

Earlier on Thursday the US market watchdog unveiled robust new guidelines for Chinese language companies that listing in America.

“Following cautious analysis, the corporate will instantly begin delisting on the New York inventory alternate and begin preparations for itemizing in Hong Kong,” the corporate stated on its account on Weibo, China’s Twitter-like microblogging community.

In a separate English language assertion Didi stated its board had accredited the transfer, including: “The corporate will organise a shareholders assembly to vote on the above matter at an acceptable time sooner or later, following vital procedures.”