DiDi sets May shareholder meeting for vote on delisting plans

Apr. 17, 2022 10:42 AM ETDiDi Global Inc. (DIDIY)By: Joshua Fineman, SA News Editor25 Comments

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Ride-sharing giant DiDi Global (NYSE:DIDI) has set May 23 for a shareholder vote on its plans to delist from the the New York Stock Exchange.

DiDi (DIDI) won't apply for listing of its shares on any other stock exchange before completion of the delisting, according to a statement on Saturday. Shareholders of record as of April 28 will be able to vote at the annual meeting. The board and the company will continue to explore potential listing on another exchange outside the U.S.

In December, DIDI said it planned to delist its shares from the NYSE over concerns expressed by Chinese regulators that its operations were leaking sensitive data. The company said it would instead pursue a listing on the Hong Kong market.

Shares of DIDI plunged on March 11 on news that it was suspending plans to list its shares on the Hong Kong exchange because it failed to meet new Chinese regulatory requirements regarding data security.

DiDi (DIDI) separately said in a statement on Saturday that Fengxia Liang has been appointed as a director to the board and Martin Chi Ping Lau has resigned from the board.

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