Technology

Didi shareholders give green light for New York delisting after IPO saga sees US$60 billion in value evaporate

Didi shareholders give green light for New York delisting after IPO saga sees US$60 billion in value evaporate

Didi Global on Monday received approval at a special shareholder meeting to “voluntarily” delist from the New York Stock Exchange, capping an 11-month fiasco that wiped out US$60 billion in value and turned the ride-hailing giant into a warning sign for investment in Chinese tech stocks. The company said in a statement on Monday evening that more than 96 per cent of shareholder votes cast were in favour of the delisting plan.

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