SHANGHAI, Nov. 26 (Reuters) – Chinese regulators have asked top executives at ride-hailing giant Didi Global Inc (DIDI.N) to develop a delisting plan from the New York Stock Exchange due to data security concerns, Bloomberg News reported.
China’s tech watchdog wants management to take the company off the US stock market out of concerns about the loss of sensitive data, the report said, citing people familiar with the matter.
Neither Didi nor the Cyberspace Administration of China responded to Reuters’ request for comment. Didi investors SoftBank Group Corp (9984.T) and Tencent Holdings (0700.HK) fell more than 5% and 3.1%, respectively, according to the report.
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Proposals under consideration include direct privatization or a stock float in Hong Kong, followed by delisting from the United States, the news report said.
As privatization progresses, shareholders would likely get at least $ 14 per …