Chinese giant Didi Global Inc. said it would begin its plan to delist from the New York Stock Exchange after receiving shareholder approval at a meeting Monday.
About 96% of shareholders who voted at the meeting supported the delisting proposal, the company said. Among them are Didi’s founders Will Chen and Zhang Liu, who previously indicated they would vote by one vote per share.
Didi’s U.S. depositary receipts fell from their initial public offering of $ 14 less than a year ago, burdening many U.S. investors with big losses. The company told shareholders it needed to be removed from the list before it could resolve the ongoing cybersecurity investigation in China.
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