Chinese regulators have requested Didi Global Inc.’s senior executives to come up with a plan to delist from the U.S. exchanges, according to a report by Bloomberg on Friday.

  • The country’s tech regulator wants the leadership to take the company off the New York Stock Exchange due to concerns about leakage of sensitive data.
  • China’s Cyberspace Administration Agency directed Didi to come up with the exact details to exit NYSE subject to governmental approval.
  • Plans under consideration include straight-up privatization or floating shares in Hong Kong before delisting from the U.S.
  • If privatization goes on, the plan would be nearly the $14 initial price offering price since a lower offer could attract lawsuits or resistance from shareholders.
  • In the case of a secondary listing in Hong Kong, the IPO price would be at a discount to the share price in the U.S., $8.11.

Discussions are still ongoing to see whether it’s possible for regulators to backtrack their requests. DIDI down -6.29%, Pre-market trading.