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China’s ride-hailing giant DiDi Global is set to convene an extraordinary general meeting on Monday (May 23rd) in Beijing, when major shareholders of the company including SoftBank Group, Tencent Holdings and Uber Technologies Inc. are expected to vote in favor of a delisting from the New York Stock Exchange, reported Bloomberg News.
That would clear the way for the company to cooperate with regulators who are demanding an overhaul of its data systems as part of a cybersecurity review. Only then will Didi be free to begin preparing for a Hong Kong share float, the best outcome investors say they can hope for. Read more …