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Didi Soars on U.S. Delisting, Hong Kong Share Sale Plan

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Reuters

Softbank Group shares slide 3% after Didi, Arm, Grab triple setback

Shares in Japanese conglomerate SoftBank Group Corp dropped over 3% on Friday after the giant tech investor was hit with three disappointments within 24 hours, including a poor Nasdaq debut for ride-hailing firm Grab. SoftBank, either in its own right or through its Vision Fund, has made a string of massive investments around the world, often in large technology companies. Chinese ride-hailing giant Didi Global, which is 21.5% owned by the Vision Fund, said earlier Friday it would delist from the New York Stock Exchange and pursue a listing in Hong Kong, after coming under pressure from Chinese regulators over data security.

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