Bloomberg News reported that Chinese regulators have urged Didi Global’s top executives to design a plan to delist the company from US stock exchanges due to security concerns.
According to the article, China’s tech authority has requested that the firm be delisted from the New York Stock Exchange due to worries over the release of sensitive data.
Didi did not respond to a request for comment from Reuters.
According to the news article, proposals under discussion include straight-up privatisation or a share issue in Hong Kong followed by delisting from the US.
If the privatisation succeeds, the proposal will most likely be at least $14 (approximately Rs. 1,040) IPO price, because a lesser offer so soon after the June first public offering could result in lawsuits or shareholder pushback, according to the article, which cited sources.
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