Chinese regulators have asked the executives of Didi Global to come up with a plan to delist from the US market because of data security concerns.
According to a report, China's tech watchdog wants the management to take the company off the New York Stock Exchange because of concerns about the leak of sensitive data.
Didi and the Cyberspace Administration of China did not respond to requests for comment. SoftBank Group Corp has a minority stake in Didi.
A delisting from the United States is one of the proposals under consideration, according to the news report.
The report said that if the privatization proceeds, shareholders would likely be offered at least the 14 per share IPO price, since a lower offer so soon after the June initial public offering could prompt lawsuits or shareholder resistance.
Didi went ahead with its New York listing even though the Chinese regulators had urged the company to put it on hold while a review of its data practices was conducted, according to sources.
Soon after, the CAC launched an investigation into Didi over its collection and use of personal data. The data was collected illegally and the app stores were ordered to remove 25 Didi apps.
Didi said it had stopped registration and would make changes to comply with rules on national security and personal data protection.
