Didi – Chinese ride hailing giant plans to use to exchange mechanism that would allow it to list its shares in Hong Kong without raising capital, according to Reuters citing two people familiar with the matter.
The development comes as Didi moves towards delisting from New York Stock Exchange after the company came under pressure from Chinese authorities on its initial public offering (IPO) this year and on its data protection practices.
The Hong Kong bourse allows a process called “listing by introduction” which would allow Didi to transfer shares from the U.S. to Hong Kong gradually, Reuters reported citing two people familiar with the matter.
Reuters also reported, Didi plans to file for Hong Kong by end of April and list by June.
