Investors vote to withdraw from Wall Street

Beijing The shareholders of the Chinese taxi broker Didi are expected to seal the company’s delisting from the New York Stock Exchange (NYSE) this Monday. Around eleven months after the debacle surrounding the Internet platform’s IPO, investors will be voting on the company’s stock market future at an extraordinary shareholders’ meeting starting at 1 p.m. (CET) in Beijing. Market observers assume that major shareholders such as the Japanese investor Softbank, the Chinese tech group Tencent and the US taxi platform Uber, which together hold around 48 percent of the shares, will agree to the delisting.

Didi went public in New York at the end of June last year, raising $4.4 billion. However, just a few days after the IPO, the Chinese Internet regulator CAC accused the company of endangering national security by going public abroad and initiated investigations. The stock then plummeted.