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China app giant Didi plans to exit US stock market and move to Hong Kong

The firm has come under intense pressure since it made its US debut in July as within days of the initial public offering (IPO) Beijing announced a crackdown on technology companies listing overseas.

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Beijing: Chinese ride-hailing giant Didi Global announced on Thursday about its plans to exit from the New York Stock Exchange (NYSE) and move its listing to Hong Kong, the BBC reported on Friday.

The firm has come under intense pressure since it made its US debut in July as within days of the initial public offering (IPO) Beijing announced a crackdown on technology companies listing overseas.

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Earlier on Thursday as well the US market watchdog unveiled tough new rules for Chinese firms listing in America.

Didi said in a statement that its board had approved the move, adding: “The company will organise a shareholders meeting to vote on the above matter at an appropriate time in the future, following necessary procedures.”

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