Didi Chuxing, the Chinese ride-hailing group hit by Beijing’s regulatory crackdown on technology companies, said it would delist from the New York Stock Exchange in an acceleration of China’s decoupling from US capital markets.
The company wrote on its official Weibo account on Friday that it would begin the process of delisting and prepare to go public in Hong Kong.
The company said its board had authorised the New York delisting of its American depositary shares “while ensuring that ADSs will be convertible into freely tradable shares of the Company on another internationally recognized stock exchange”.
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