DiDi Global Inc. (NYSE: DIDI), the leading mobility platform, faces significant challenges after the Cyberspace Administration of China reported violations involving the 'DiDi Chuxing' app's personal information practices. Following this, the app was ordered to be removed from app stores in China, affecting new user registrations and potentially impacting revenue. Despite this setback, DiDi continues its global operations and aims to enhance user data security and compliance with regulations.
DiDi Global Inc. (NYSE: DIDI) has announced its compliance with a cybersecurity review mandated by the PRC's Cyberspace Administration Office, leading to a suspension of new user registrations in China. Despite this suspension, DiDi continues its normal operations and will cooperate with the authorities to enhance its cybersecurity measures. The company remains focused on improving its systems and technology capabilities amidst the ongoing review.
DiDi Global Inc. has priced its initial public offering (IPO) of 316,800,000 American Depositary Shares (ADSs) at $14.00 each, aiming for a total offering size of $4.4 billion. The ADSs are set to begin trading on the NYSE under the symbol 'DIDI' on June 30, 2021, with closing expected on July 2, 2021, contingent on customary conditions. An option for underwriters to purchase an additional 47,520,000 ADSs is also included. Goldman Sachs, Morgan Stanley, and J.P. Morgan serve as joint bookrunners for the offering.