Chinese regulators have asked top executives of ride hailing
giant Didi Global to devise a plan to delist from US bourses on Security fears,
Bloomberg News reported.
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 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
privatisation or a share float in Hong Kong followed by a delisting from the
United States, according to the news report.
The proposal will likely be at least $14 IPO price if the
privatisation proceeds, since a lower offer so soon after the June initial
public offering could prompt lawsuits or shareholder resistance, the report
said, citing sources. - Reuters
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