China asks Didi to delist from US on security fears: Bloomberg News

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

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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 https://www.bloomberg.com/news/articles/2021-11-26/china-is-said-to-ask-... 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 privatization or a share float in Hong Kong followed by a delisting from the United States, according to the news report.

If the privatization proceeds, the proposal will likely be at least $14 IPO price if the privatization proceeds, since a lower offer so soon after the June initial public offering could prompt lawsuits or shareholder resistance, the report said, citing sources.