Chinese ride-hailing company Didi has delisted from New York Stock Exchange (NYSE) on 2 December 2021.
Singapore’s ride-hailing company Grab also made its debut in Nasdaq on the same day.
Furthermore, Didi announced that it would relist on Hong Kong Stock Exchange (HKEX).
After Chinese regulators found that Didi had allegedly breached national data and privacy laws in July, the decision was taken. The company announced after it had raised $4.4 billion through an Initial Public Offering in New York.
In addition, Didi also reportedly violated the Chinese Anti-Monopoly Law to hold 90% of the Chinese ride-hailing market.
Only 30% of Didi’s partnered vehicles complied with regulations, the Chinese Transport Ministry said.
Chinese Administration of Cyberspace (CAC), which regu...
