Why Are DiDi Global Shares Plunging Today?

Chinese regulators have urged ride-hailing giant DiDi Global Inc DIDI to devise a plan to delist from the U.S. over data security concerns, Bloomberg reports. The proposal includes privatization or a share float in Hong Kong followed by a U.S. delisting.

• China's tech watchdog aims to take the company off the U.S. bourse over sensitive data leak concerns.
• The shareholders will likely get a minimum of $14 per share IPO price, implying a 72.6% premium on November 24 closing price.
• DiDi faced flak when it pressed ahead with its U.S. IPO despite China's resistance.
• Related Content: DiDi Aims To Relaunch Apps In China: Report, Alibaba Ramps Up Ride-Hailing Investment Amid Regulatory Crackdown
• Price Action: DIDI shares traded higher by 5.80% at $7.64 in the premarket session on the last check Friday.
• Photo by iphonedigital via Flickr