HONG KONG : China's Didi Global plans to hire Goldman Sachs for its planned Hong Kong listing and U.S. delisting, said three sources with knowledge of the matter, as it moves to withdraw from the New York exchange after just five months.
The company is under pressure from Beijing to quit the New York Stock Exchange after running foul of Chinese authorities by pushing ahead with its IPO despite being asked to put it on hold while a review of its data practices was conducted. Given the short time since its New York debut, Didi will have to apply for a dual-primary listing in Hong Kong, instead of a secondary one which requires at least two financial years of good regulatory compliance on another qualifying exchange.
Didi did not respond to a Reuters request for comment. Goldman declined to comment. The sources were not authorised to talk to the media and therefore declined to be identified.
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