China asks Didi to delist from U.S. on security fears – Bloomberg News

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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-didi-to-delist-from-u-s-on-security-fears?sref=ZoyErlU1 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.

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