A mobile phone displays the Didi Chuxing app and its share price, Yichang, Hubei province, China, July 6, 2021.
Cost photo | Barcroft Media | Getty Images
GUANGZHOU, China – Didi’s shares plunged more than 7% in U.S. pre-listing trading on Friday after officials from seven Chinese government agencies visited the ridesharing giant’s offices to conduct a cybersecurity clearance.
This month, days after its high profile listing in the US, China’s leading cyberspace regulator announced a cybersecurity review of Didi.
The ride-hailing giant was forced to stop registering new users and its app was also removed from the Chinese app stores.
The Cyberspace Administration of China (CAC) alleged Didi illegally collected user data.
The CAC and the State Administration for Market Regulation (SAMR), the leading antitrust authority, were among the seven departments that Didi visited to review network security.