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China’s ride-hailing firm Didi to switch listing from New York to Hong Kong
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The Chinese ride-hailing firm Didi is to move its listing from the New York stock exchange to Hong Kong, as Beijing cracks down on the country’s biggest technology companies.
The company said it would start “immediate” preparations to delist in New York and prepare to go public in Hong Kong.
“After a careful study, the company will start delisting on the New York stock exchange immediately, and start preparations for listing in Hong Kong,” the company posted on its Weibo account on Friday, a Twitter-like service in China.
It comes less than six months after Didi made its $4.4bn (£3.3bn) flotation in New York, making it the biggest listing by a Chinese company in the US since Alibaba in 2014, only to see investors sharply sell off shares days
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