Didi’s entry into the US stock market in June, known as the “Uber chino”, was overshadowed by an investigation launched a few days later by the communist authorities for cybersecurity issues.
Citing sources familiar with the case, Bloomberg said Friday that Chinese regulators have urged company executives to withdraw from the New York Stock Exchange for fear of leaking sensitive data.
The information indicates that a privatization or a transfer to the Hong Kong stock exchange are among the options. The Cyberspace Administration of China has urged the company to work on the details, subject to government authorization, the same sources said.
Didi had raised $ 4.4 billion on his Wall Street entry, the most for a Chinese company since Alibaba in 2014.
The firm for contracting routes with a driver has been greatly impacted by the regulatory measures taken by Beijing on large local technology companies, which also affected Alibaba, Tencent or Meituan.
Founded in 2012 by Cheng Wei, a former Alibaba CEO, Didi succeeded in kicking Uber out of China in 2016 after an all-out price war. It is currently available in 15 countries, including Russia and Australia.
The application claims to have 15 million drivers and more than 500 million users.
Source From: Ambito
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