Didi shares slump premarket as China said to request delisting
BNN Bloomberg
Didi Global Inc. shares fell in U.S. premarket trading after Chinese regulators were said to have asked the ride-hailing giant to delist from U.S. bourses and global markets were jolted by a new COVID-19 variant.
Didi Global Inc. shares fell in U.S. premarket trading after Chinese regulators were said to have asked the ride-hailing giant to delist from U.S. bourses and global markets were jolted by a new COVID-19 variant.
Didi’s American depositary shares traded at US$7.52 of 5:03 a.m. in New York, down 7.2 per cent from the previous close.
Regulators have asked the company’s top management to remove the firm from the New York Stock Exchange on worries over security, according to people familiar with the matter.
“In our view, privatization is the more unlikely option and dual listing the business in Hong Kong makes more sense,” William Mileham, analyst at Mirabaud Securities, said in written comments.
Meanwhile, stocks slid broadly across the world on rising worries over a new coronavirus variant identified in South Africa. U.S. stock markets had been closed on Thursday for the Thanksgiving holiday.
