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Ride hailing app Didi announced it was preparing to leave the New York Stock Exchange in a small note released on Friday.
“[Didi Global] today announced that its board of directors has authorized and supports the company to undertake the necessary procedures and file the relevant application(s) for the delisting of the company’s ADSs [American Depositary Shares] from the New York Stock Exchange, while ensuring that ADSs will be convertible into freely tradable shares of the Company on another internationally recognized stock exchange at the election of ADS holders,” it said.
“The company will organize a shareholders meeting to vote on the above matter at an appropriate time in the future, following necessary procedures.
“The board has also authorized the company to pursue a listing of its class A ordinary shares on the main board of the Hong Kong Stock Exchange.”
Didi announced its IPO on Wall St at the end of June, and opened trading at $14. It closed on Friday at $6.07 after opening the day at $7.56 per share.
In July, Didi found its app removed from app stores in China following a government edict.
The Cyberspace Administration of China said at the