Ride-hailing app Didi’s shares surge on report it may go private
Al Jazeera
Bloomberg News previously reported that Chinese regulators were considering serious, perhaps unprecedented, penalties for Didi, including forcing it to delist.
Didi Global Inc. surged after the Wall Street Journal reported the firm is considering going private to placate Chinese regulators and compensate investors for losses. The Beijing-based company has been in discussions with bankers, regulators and key investors about ways to resolve regulatory woes since its troubled listing, the newspaper said, citing people with knowledge of the matter. One of the options could involve a tender offer for the publicly traded shares, according to the report. The stock soared as much as 49% but later pared gains after Didi said on its social media account that reports about its privatization were untrue.
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