Chinese ride hailing company Didi Global (NYSE:DIDI) is considering going private to placate Chinese authorities and calm jittery stock markets.
Didi Global is mulling delisting as the Chinese government continues its crackdown on the company and other publicly listed technology firms.
The potential reversal comes just about a month after Didi Global listed on the New York Stock Exchange (NYSE).
Days after its $4.4-billion U.S. listing, China's cyberspace regulator launched a probe into the company and asked it to stop registering new users, citing national security and public interest concerns.
Chinese authorities also said they will remove the mobile apps operated by Didi Global from app stores.
Didi Global has been in talks with bankers, regulators, and key investors to figure how to resolve the problems following its listing on the New York Stock Exchange.
The company has asked its major underwriters to assess investors' views regarding a privatization plan, as well as the pricing range that they would accept.
U.S.-listed shares of Didi Global have fallen nearly 40% since listing in New York on June 30. Didi Global's listing was the biggest stock sale by a Chinese company since the 2014 listing of Alibaba Group Holding Ltd.
