Didi Global, a Chinese ride-hailing app, raised $4.4 billion during its debut on New York Stock Exchange. BRENDAN MCDERMID/ReutersDidi stock rose Friday after Bloomberg reported that Didi may relinquish control of its data in order to please Chinese regulators.Bloomberg reported that the firm had considered a variety of proposals, including outsourcing data management to a third-party.Didi shares rose by 6% just before Friday's opening bell.Subscribe to our daily newsletter 10 Things Before The Opening Bell.Didi Global shares rose Friday after reports surfaced that Didi Global is considering giving up control of its data in order to placate Chinese regulators, who have clamped down on the company following the US IPO.Bloomberg reported that the ride-hailing company has made several proposals to regulators. Bloomberg first reported that Didi suggested handing over its data management to third parties, as authorities preferred. Didi's data is vital to its operations, as it coordinates around 400 million riders/drivers daily.Didi shares rose as high as 15% in pre-market trading Friday, with gains of 6% just before the opening bell.Sources told Bloomberg that the preliminary phase of deliberations is underway and that any outcome could be months away.Bloomberg reported that China may consider severe penalties for Didi. These could include suspending operations or introducing a state owned investor. One of the more severe measures could be for the company to withdraw or delist its US shares.After Alibaba's IPO in 2014, Didi's New York Stock Exchange debut was second among Chinese companies.Didi shares rose as high as 28% in its initial public trading, but the stock of the besieged ride-hailing firm has lost more than half of its value since then.The Chinese company was valued at $70 billion just a few months ago. However, it is now worth less that $40 billion, roughly a month after its launch.
