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Didi shares surge despite plan to delist from the U.S.
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cnbc.comIn this article
Didi shares soared as much as 14% in U.S. premarket trading Friday after the company announced plans to delist from the New York Stock Exchange and pursue a listing in Hong Kong instead.
Shares of the Chinese ride-hailing giant have been hammered by regulatory woes in its home country ever since its initial public offering in the U.S. earlier this year. The stock is down about 40% from its initial listing price of $14 per share.
Didi's share price was last up 9.5% at about 4:45 a.m. ET.
The company said Thursday it will delist from the New York Stock Exchange «immediately» and begin preparations for a separate listing in Hong Kong. U.S. shares are to be converted into «freely tradeable shares» on another international
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