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Didi Global Sinks on Delisting Plans and Revenue Drop

  • Shareholders set to vote on delisting plans on May 23
  • It won’t apply to sell shares on another exchange before this
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WATCH: Ride-hailing giant DiDi says it’s planning to delist its U.S.-traded shares before it finds a new venue for the stock. Peter Elstrom reports.Source: Bloomberg
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DiDi Global Inc. tumbled Monday, after the Chinese ride-hailing giant said it’s planning to delist its U.S.-traded shares before it finds a new venue for the stock.

DiDi’s American depositary receipts sank 18% to $2.01 after it set an extraordinary general meeting for May 23 to vote on delisting its shares from the New York Stock Exchange. While the company will continue to explore listing on another internationally recognized exchange, DiDi said it won’t apply until after the U.S. delisting is finished.