China’s internet regulator said it is reviewing the cybersecurity of
Technology Co., the Chinese ride-hailing business of Didi Global Inc., which went public in the U.S. on Wednesday.
No new user registration is allowed during the review to prevent potential risks expanding, the Cyberspace Administration of China said late Friday.
Didi Global Inc.’s stock fell by about 9% in premarket trading on Friday.
The regulator didn’t say how long the review would last but said that the move was aimed at safeguarding national data security.
Didi said it would fully cooperate with the relevant government authority during the review.
“We plan to conduct a comprehensive examination of cybersecurity risks, and continuously improve on our cybersecurity systems and technology capacities.” Didi said.
Didi’s stock jumped Wednesday on the first day of trading in the U.S., after the company raised about $4.4 billion in its initial public offering, making it the biggest IPO haul for a Chinese company since
listed shares in 2014, according to Dealogic.
Write to Liyan Qi at firstname.lastname@example.org
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