Didi says it will delist from the New York Stock Exchange and prepare to list in Hong Kong

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Chinese ride-hailing giant Didi said Friday that it will start delisting from the New York Stock Exchange, and make plans to list in Hong Kong instead.

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It comes less than six months after the tech giant listed in the U.S. Shares of Didi have plunged 44% since its IPO on June 30, and closed at $7.80 on Thursday.

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Didi’s shares fell sharply last week after reports that Chinese regulators have asked the firm’s executives to formulate a plan to delist from the U.S.

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