On May 23 2022, the company announced that it is preparing to delist from the New York Stock Exchange, which is a large concern for current investors.
Beijing's cybersecurity review of the DiDi was about to end up, which may allow Didi to return to app stores in mainland China, potentially as soon as this week. The report, which comes almost one year after the company was first investigated by regulators and had its app banned in China, sent its shares in New York up 53% in premarket trading on Monday.
Didi launched a blockbuster initial public offering in the United States last June, raising USD 4.4 billion. However, a few days later, China banned the service from app stores in the country and initiated a cybersecurity probe. On May 23 2022, the company announced that it is preparing to delist from the New York Stock Exchange, which is a large concern for current investors.
However, Chinese Vice Premier Liu He, also a member of the Political Bureau of the Communist Party of China Central Committee, speaks at a national video teleconference on May 7, 2022. China tries to make nice with Big Tech as economic challenges mount. Didi said last December it would leave the US stock market, without giving a reason. Last month, shareholders voted to go ahead with the withdrawal after the company said regulators would not be able to conclude their investigation while it remained listed on Wall Street. The company plans to list its shares in Hong Kong but has not laid out a specific timeline.