Didi urged by Chinese regulators to remove from the US for security reasons: report


Chinese regulators have asked top executives at ride-hailing giant Didi Global to devise a plan to scrap US exchanges over security fears, Bloomberg News reported.

China’s tech watchdog wants management to remove the company from the New York Stock Exchange over concerns about the loss of sensitive data, the report said, citing people familiar with the matter.

Didi did not respond to a Reuters request for comment.

Proposals under consideration include direct privatization or a stock float in Hong Kong, followed by delisting from the United States, the news report said.

The proposal is likely to have an IPO price of at least $ 14 (around rupees 1,040) as privatization proceeds, as a lower offering so soon after the IPO in June could spark lawsuits or opposition from shareholders, the report said below Appeal to sources.

© Thomson Reuters 2021

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