A top Chinese ride-hailing company delists from the NYSE just months after its IPO
The announcement reflects the rapid reversal in Didi Chuxing's fortunes as China goes on a regulatory blitz targeting some of the country's biggest private technology firms.
BEIJING – The Chinese ride-hailing platform Didi Chuxing says it will delist from the New York Stock Exchange and instead move to the Hong Kong Stock Exchange after coming under intense Chinese regulatory scrutiny.
The announcement reflects the rapid reversal in the transportation company's fortunes as China goes on a regulatory blitz targeting some of the country's biggest private technology firms.
"The rules are really tightening," said Lester Ross, a Beijing-based partner at law firm WilmerHale.
