Dec 03, 2021 10:44 AM

BUSINESS

Ride-Hailing Giant Didi to Delist From New York Stock Exchange

Didi's headquarters in Beijing, Oct. 29, 2021. Photo: VCG

Didi's headquarters in Beijing, Oct. 29, 2021. Photo: VCG

Battered Chinese ride-hailing giant Didi Global Inc. said it would delist from the New York Stock Exchange and pursue a listing in Hong Kong, just six months after its blockbuster $4.4 billion IPO.

It comes after the once high-flying tech giant was caught in a regulatory storm at home immediately after its U.S. listing — wiping half its market value.

The announcement came in the form of a one-line Weibo post at 9 a.m. on Friday morning, Beijing time.

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