The company’s share price fell 2.4% on the news.
Didi Corporation, called Uber China, plans to register in Hong Kong by the end of April 2022, Reuters said, citing sources. According to them, the company’s shares will start trading on the Hong Kong Stock Exchange in July next year.
The corporation plans to use a “registration by recognition” mechanism to list on Asian stock exchanges, the sources said. Usually used by companies whose shares are already traded on other exchanges. This method will allow companies to start trading shares in Hong Kong without raising capital or issuing new securities. American Didi shareholders will be able to transfer them to the Hong Kong Stock Exchange.
Didi selected Goldman Sachs, China Merchants Bank International (CMBI) and China Construction Bank International (CCBI) to manage the listing process.
For the first time, information that DiDi shares will disappear from the New York Stock Exchange appeared on the network at the end of November 2021. PRC regulators forced the company to be delisted due to a leak of company data they discovered.
The Financial Times reported yesterday that DiDi management has banned employees from selling the organization’s securities.
The share price of the Chinese company fell 2.4% in the premarket on the news.
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