According to Chambers, Chinese carrier DiDi Global has halted preparations for a planned public offering in Hong Kong.
Bloomberg News reported on Friday, citing informed sources, that the project has been frozen due to difficulties with the authorities.
According to the agency, DiDi Global has not been able to allay government agencies’ concerns about the security of sensitive user data. China’s cybersecurity authority told DiDi that the company’s efforts to prevent security and data leaks were not enough. According to the report, DiDi was targeting a listing in Hong Kong this summer.
The company came under scrutiny by Chinese authorities after it went public on the New York Stock Exchange in late June, despite government objections. In December, the company then announced that it was leaving Wall Street and going public in Hong Kong. DiDi follows a similar business model to its American competitor, Uber.
On Friday, DiDi shares on the New York Stock Exchange temporarily lost 34.47 percent to $2.2150.
/ men / mis / jha /
Beijing / Hong Kong (dpa-AFX)
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