Didi to hire Goldman for HK listing, US delisting

China's Didi Global plans to hire Goldman Sachs for its planned Hong Kong listing and US delisting, said three sources with knowledge of the matter, as it moves to withdraw from the New York exchange after just five months.

Didi, which made its debut in New York on June 30 after raising $4.4 billion via an initial public offering (IPO), said last week that it plans to delist from the US bourse and pursue a Hong Kong listing.

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.

Two sources said Didi was looking to appoint Goldman to work on the Hong Kong listing before embarking on the New York delisting. A separate source said Didi was also in talks with other investment banks including some Chinese banks.

Given the short time since its New York debut, Didi will have to apply for a dual-primary listing in Hong Kong.