Shares of Didi Global DIDI, -3.15% dropped 17% in premarket trading on Monday, after the China ride-share group over the weekend announced a 12% drop in fourth-quarter revenue from a year earlier and plans to vote on a delisting from the New York Stock Exchange.
The company, which is facing a cybersecurity probe in Japan, said that it won’t pursue a listing in any other country until the U.S. delisting is complete. Didi said it will hold a extraordinary shareholder meeting on May 23 to vote on exiting the U.S. exchange.