DiDi Global Inc (NYSE:DIDI) shares are trading lower Monday after the company announced a shareholders meeting to vote on voluntarily delisting the company's American Depositary Shares from the New York Stock Exchange.
If the board votes in favor, the company's ADRs would be delisted "as soon as practicable." In order to better cooperate with the cybersecurity review and rectification measures of Chinese authorities, the company will not apply for listing of its shares on any other stock exchange before completion of the delisting. The meeting has been scheduled for May 23.
DiDi also reported financial results showing a year-over-year decline in quarterly sales. DiDi reported fourth-quarter revenue of $6.4 billion versus the $7.59 billion estimate. The company also reported a quarterly earnings loss of 5 cents per share.
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DIDI 52-Week Range: $1.71 - $18.01
According to data from Benzinga Pro, the stock was down 18.7% at $2.00 at press time.
Photo: courtesy of DiDi.
