China asked ride-hailing service Didi to delay IPO: Report ...Middle East

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BEIJING: Chinese regulators urged ride-hailing giant Didi Chuxin to delay its $4.4 billion (RM 18.2 billion) New York IPO to examine security concerns, advice the company did not heed, according to a report.Didi was banned from app stores on Sunday by the Cyberspace Administration of China (CAC), and now faces a probe over unspecified national security issues, in a move that stoked fresh concerns about Beijing’s crackdown on the country’s tech sector.The watchdog attempted weeks before the bumper initial public offering to dissuade Didi from going ahead with it and urged the firm to launch an internal security probe, the Wall Street Journal reported Monday, citing unnamed sources familiar wi

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