China asks Didi to delist from U.S. on safety fears – Bloomberg News

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Nov 25 (Reuters) – Chinese regulators have requested high executives of experience hailing large Didi Global Inc (DIDI.N) to plan a plan to delist from U.S. bourses on Security fears, Bloomberg News reported.

China’s tech watchdog needs the administration to take the corporate off the New York Stock Exchange on issues about leakage of delicate knowledge, the report stated, citing individuals aware of the matter.

Didi didn’t reply to a Reuters request for a remark.

Proposals into account embody a straight up privatization or a share float in Hong Kong adopted by a delisting from the United States, in accordance with the information report.

If the privatization proceeds, the proposal will seemingly be at the very least $14 IPO worth if the privatization proceeds, since a decrease provide so quickly after the June preliminary public providing might immediate lawsuits or shareholder resistance, the report stated, citing sources.

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Reporting by Sneha Bhowmik; Editing by Arun Koyyur
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A trader works during the IPO for Chinese ride-hailing company Didi Global Inc on the New York Stock Exchange (NYSE) floor in New York City, U.S., June 30, 2021.  REUTERS/Brendan McDermid/File Photo

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The app logo of Chinese ride-hailing giant Didi is seen through a magnifying glass on a computer screen showing binary digits in this illustration picture taken July 7, 2021. REUTERS/Florence Lo/Illustration

A trader works during the IPO for Chinese ride-hailing company Didi Global Inc on the New York Stock Exchange (NYSE) floor in New York City, U.S., June 30, 2021.  REUTERS/Brendan McDermid/File Photo