DiDi stock rallies after shareholders approve NYSE delisting, and timeline explained

Dow Jones2022-05-23

MW DiDi stock rallies after shareholders approve NYSE delisting, and timeline explained

Shares of DiDi Global Inc. $(DIDI)$ surged 5.3% in premarket trading Monday, after the China-based ride-hailing giant provided details from its delisting from the NYSE after shareholders approved the move. The company said it plans to file a Form 25 with the U.S. Securities and Exchange Commission on or after June 2, and it expects the delisting of its American depositary shares $(ADS.AU)$ to occur ten days after the Form 25 is declared effective. The stock had closed at a record low of $1.46, which was 91.1% below the record close of $16.40 on July 1, 2021 on the day after it went public, following the DiDi's disclosure that it needed to delist from the NYSE. The stock has lost 69.9% year to date through Friday, while the iShares MSCI China Pacer Swan SOS Fund of Funds ETF|ETF $(MCHI)$ has dropped 20.8% and the S&P 500 has shed 18.1%.

-Tomi Kilgore

 

$(END)$ Dow Jones Newswires

May 23, 2022 09:14 ET (13:14 GMT)

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