At 9 o'clock in the morning on December 3, Didi Chuxing’s official Weibo announced that after careful study, the company will start delisting on the New York Stock Exchange and start preparations for listing in Hong Kong.

　　Didi announced that it will delist from the New York Stock Exchange and start listing in Hong Kong; Source: Sina Weibo screenshot

　　On the evening of June 30 this year (Beijing time), Didi, which was founded 9 years ago, was officially listed on the New York Stock Exchange under the stock code "DIDI". It is reported that the listing of Didi in the United States is very low-key. There is no bell ringing ceremony, no public relations drafts, and even no photos on the Internet, which is really "abnormal." From the follow-up situation, Didi is probably "guilty".

　　On July 2, the Cyber ​​Security Review Office issued an announcement that, in order to prevent national data security risks and maintain national security, it decided to initiate a network security review of Didi Travel and suspend registration of new users during the review period. On July 4, the State Cyberspace Administration of China confirmed that the Didi Chuxing App had been removed due to serious violations of laws and regulations in collecting and using personal information. On July 9, the State Cyberspace Administration of China confirmed that 25 apps including Didi Enterprise Edition were removed from the shelves.

　　The Cyber ​​Security Review Office reviewed Didi; Source: Netcom China

　　Affected by this incident, starting in mid-July, many online car-hailing platforms have begun to accelerate their market occupation, hoping to seize more market share in the window period set aside by Didi. You must know that Didi had a market share of more than 90% before, and it can be said to be the only one. Under this circumstance, some people in the industry said that Didi will not "wait to die", and the rescue measures include delisting from the New York Stock Exchange.

　　In fact, in recent months, there have been news that Didi has delisted from the United States and will then be privatized. It is reported that in the face of external rumors, Didi responded in October, claiming that the information circulated by the outside world was false and that they did not withdraw from the market. Now, with the release of this news, Didi's New York Stock Exchange delisting work has been officially announced, although the process may not be easy.

　　Guotai Junan senior market analyst Zhang Xinmang said that in terms of the delisting process, Didi must first privatize the U.S. stock market before it can be listed on the Hong Kong stock market. There are two methods for privatization: long-term merger and tender offer. Long-term merger refers to the direct merger between the major shareholder and the target company, and the purchase of minority shareholders' shares with cash as consideration to achieve delisting. A tender offer is to first acquire 90% of the target company’s shares through an offer, and then pass a simple merger resolution to obtain cash or bonds or redeemable preferred shares as the consideration, forcing the remaining minority shareholders to give up the target company’s shares. "The entire delisting process will take anywhere from one month to six months."

　　This article is reproduced from Gasgoo.com