China demanded that DiDi develop a plan to withdraw the company from the New York Stock Exchange
New York Stock Exchange, Bloomberg reports, citing sources. The publication calls this “Beijing's unprecedented request.” Beijing is considering options for direct privatization or a public offering in Hong Kong. In the first case, the company will have to repurchase its shares for at least an IPO (initial public offering) price of $ 14. That's 72 percent more than their current value (about $ 8). Any option will deal a serious blow to the service, the newspaper notes. For example, privatization could lead to dissatisfaction among shareholders and lead to lawsuits against DiDi.