DiDi stock rallies after shareholders approve NYSE delisting, and timeline explained

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Shares of DiDi Global Inc. DIDI, -4.00% surged 5.3% in premarket trading Monday, after the China-based ride-hailing giant provided details from its delisting from the NYSE after shareholders approved the move. The company said it plans to file a Form 25 with the U.S. Securities and Exchange Commission on or after June 2, and it expects the delisting of its American depositary shares (ADS) to occur ten days after the Form 25 is declared effective. The stock had closed at a record low of $1.46, which was 91.1% below the record close of $16.40 on July 1, 2021 on the day after it went public, following the DiDi’s disclosure that it needed to delist from the NYSE. The stock has lost 69.9% year to date through Friday, while the iShares MSCI China ETF MCHI, +0.04% has dropped 20.8% and the S&P 500 SPX, +1.86% has shed 18.1%.

This article was originally published by Marketwatch.com. Read the original article here.

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