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China’s Didi awaits completion of regulator’s review to return to normal -Breaking

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© Reuters. A man is seen walking past Didi’s headquarters, a Chinese ride-hailing company. Beijing, China. July 5, 2021. REUTERS/Tingshu Wang/Files

BEIJING, (Reuters) – Didi Global is a Chinese ride-hailing firm that will not be able resume its normal operations until cybersecurity checks are completed by authorities. This was disclosed in a file on Thursday.

After angering Chinese regulators, the company now struggles to get its business back on track. The US listed $4.4 billion of shares in America, despite being requested to suspend it.

Cyberspace Administration of China became an internet watchdog just days after the public launch of the company last June. ()Didi began conducting a cybersecurity audit of how it handled domestic user data. App stores were ordered to delete Didi-operated mobile apps.

The company filed Thursday saying it has already made corrections in order to meet the review. This included improving its internal management systems for data security.

It also stated that it had to complete a delisting plan from New York’s exchange in order for the review process to conclude.

Didi is unable register new users ever since regulators began their review.

It was forced to delist American Depositary Shares within six months after its initial listing.

Didi shareholders will vote on May 23, on ADR delisting proposals.

Didi stated, however, that in an annual filing, it would cooperate with an U.S. Securities Exchange Commission investigation into the New York IPO.

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