Shareholders of DiDi Global, Inc. (NYSE: DIDI) have approved the company’s plan to delist from the New York Stock Exchange (NYSE). The Chinese ride-hailing company got listed in the U.S. on June 30, 2021.
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The delisting decision comes after the company faced a cybersecurity probe in China. As part of the ongoing investigation, it was ordered to stop new user registration and forced to take down some of its apps.
A filing with the U.S. Securities and Exchange Commission (SEC) on May 11 said that DiDi plans to file a delisting notification earliest by June 2, and its stock would stop trading 10 days after the filing.
The company added that it does not plan to get listed on any other exchange until the completion of the cybersecurity probe.
About DiDi
Based out of Beijing, DiDi Global is a mobile transportation platform that offers ride-hailing, taxi-hailing, chauffeur, hitch, and other forms of shared mobility services.
Hedge Funds’ Activity
TipRanks’ Hedge Fund Trading Activity tool shows that the confidence in DiDi is currently Very Negative, as the cumulative change in holdings across all 10 hedge funds that were active in the last quarter was a decrease of 12 million shares.
Conclusion
DiDi’s delisting news was released after the market closed on Monday. At the time of writing, the company’s stock was trading 2.3% down in the pre-market session on Tuesday. Further, the company’s shares have declined nearly 90% since its IPO in June.
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