Didi Asked by Chinese Regulators to Delist From US on Security Fears: Report

China's tech watchdog is concerned about leakage of sensitive data.

Didi Asked by Chinese Regulators to Delist From US on Security Fears: Report

Chinese regulators asked top executives of ride Didi Global to devise a plan to delist from US bourses

Highlights
  • Proposals under consideration include a straight up privatisation
  • The proposal will likely be at least $14 (roughly Rs. 1,040) IPO price
  • Didi Global was asked to delist from US bourses on Security fears

Chinese regulators have asked top executives of ride hailing giant Didi Global to devise a plan to delist from US bourses on Security fears, Bloomberg News reported.

China's tech watchdog wants the management to take the company off the New York Stock Exchange on concerns about leakage of sensitive data, the report said, citing people familiar with the matter.

Didi did not respond to a Reuters request for a comment.

Proposals under consideration include a straight up privatisation or a share float in Hong Kong followed by a delisting from the United States, according to the news report.

The proposal will likely be at least $14 (roughly Rs. 1,040) IPO price if the privatisation proceeds, since a lower offer so soon after the June initial public offering could prompt lawsuits or shareholder resistance, the report said, citing sources.

© Thomson Reuters 2021


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