Ride-hailing giant Didi plans US stock market exit in move to Hong Kong
Didi's IPO was the biggest listing in the US by a Chinese company since Alibaba's debut in 2014
"Following careful research, the company will immediately start delisting on the New York stock exchange and start preparations for listing in Hong Kong," the company said on its account on Weibo, China's Twitter-like microblogging network. The Cyberspace Administration of China said it was investigating the firm to protect "national security and the public interest".: "The company will strive to rectify any problems, improve its risk prevention awareness and technological capabilities, protect users' privacy and data security, and continue to provide secure and convenient services to its users."
On Thursday, the US Securities and Exchange Commission said it had finalised rules that would mean US-listed foreign companies can be delisted if their auditors do not comply with requests for information from regulators.
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