The China Securities Regulatory Commission said that Didi Global’s delisting from the New York Stock Exchange would not concern other U.S.-listed Chinese stocks.
Reuters reported that, in a statement on Saturday, Apr 16, China’s regulator added that Didi’s delisting decision was made based on the market and the company’s situation.
Didi, the Chinese ride-hailing giant, announced earlier on Saturday that it would hold an extraordinary general meeting on May 23, in which the shareholders would vote for its delisting plans in the United States.
The firm added that it was looking for another potential internationally recognized exchange, but it would not apply to list its stock on any other exchange before the delisting plan is complete.
According to Bloomberg, Didi announced its plan to withdraw from the New York Stock Exchange last December, and pursued a Hong Kong listing around the summer of this year.
However, Didi had to delay the plan to list its shares in Hong Kong in March.
The plan of moving Didi’s listing closer to home may be jeopardized after Chinese authorities raised concerns over its security and cyber protection.
Last year, Beijing started tightening rules on overseas listings. The authorities required companies with at least one million users to undergo a cybersecurity review before going public abroad.
The Chinese government requested Didi’s delisting due to worries about vast troves of sensitive data being leaked overseas after the U.S. listing.