China asked Didi to be removed from US for security reasons: Report

Chinese regulators have asked top executives of the giant Didi Global to prepare a plan to delist them from US markets over security concerns, Bloomberg News reported.

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

Didi did not respond to Reuters’ request for comment.

According to the news report, proposals under consideration include outright privatization or a share float in Hong Kong, followed by delisting from the United States.

The report, citing sources, said the offer would be at least a $14 (about Rs 1,040) IPO price if privatization goes ahead, as a lower offering soon after the June initial public offering could prompt lawsuits or shareholder resistance. Is.

© Thomson Reuters 2021

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