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Didi to delist from NYSE

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Chinese ride-hailing giant Didi announced plans to delist from the New York Stock Exchange in favor of a listing in Hong Kong.

Shares dropped on the news. The company went public in the United States earlier this year.

The U.S. shares are slated to be converted into "freely tradeable shares" on another international exchange, according to a company statement.

Read more from CNBC.

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