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Didi Global plans to delist from New York, seek listing in Hong Kong

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Reuters

SHANGHAI/HONG KONG (Reuters) -Ride-hailing giant Didi Global said on Friday it will delist from the New York stock exchange and pursue a listing in Hong Kong, succumbing to pressure from Chinese regulators concerned about data security. It ran afoul of Chinese authorities by pushing ahead with its $4.4 billion U.S. IPO in July despite being asked to put it on hold while a review of its data practices was conducted. The powerful Cyberspace Administration of China (CAC) then quickly ordered app stores to remove 25 mobile apps operated by Didi and also told the company to stop registering new use…

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