Didi urged China to drop US list over security fears: report

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Chinese regulators have asked top executives at running giant Didi Global to work out a plan to delist U.S. stock exchanges over security concerns, Bloomberg News reported.

The Chinese tech watchdog wants management to remove the company from the New York Stock Exchange over concerns over the leak of sensitive data, the report said, citing people familiar with the matter.

Didi did not respond to a Reuters request for comment.

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The proposals under consideration include a direct privatization or a float of shares in Hong Kong followed by a delisting of the United States, according to the report.

The proposal will likely be for an IPO price of at least $ 14 (around Rs 1,040) if privatization continues, as a lower bid so soon after the initial June public offering could result in lawsuits or shareholder resistance, the report said, citing sources.

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© Thomson Reuters 2021


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