Chinese ride-hailing giant Didi (NYSE: DIDI) has denied a Wall Street Journal report Thursday morning that said the recently public company was considering a privatization plan to satisfy Chinese regulators.
Citing “people familiar with the matter,” the WSJ said the company was exploring the privatization option as a way to placate Chinese authorities that are investigating the company for antitrust violations and to satisfy investors that have lost money on the stock since the company went...
Stock in newly public Didi Global (NYSE: DIDI) came crashing down Tuesday morning following a ban on its app by China amid continuing questions about the company’s business practices.
Didi stock was down more than 25% in premarket trading Tuesday before recovering slightly as the morning went on, although it was still off more than 23% in midmorning trading at $12.07 per share. The Chinese ride-hailing giant went public on Thursday at $14 per share, climbing as high as $18 per share on its...
https://www.freightwaves.com/news/didi-stock-crashes-after-china-bans-downloads-of-app
Didi Global operates in 16 countries, but 90% of its revenues come from China. In 2020, the ride-hailing giant saw its business plummet due to lockdowns related to COVID-19 and lost $1.6 billion on $21.6 billion in revenue, a 10% decline from 2019. The loss might have been bigger, save for the company’s decision to expand its operations into intracity freight delivery, food delivery and community group-buying services.
Even as a Chinese government investigation into the company is ongoing, Didi...
https://www.freightwaves.com/news/is-didis-ipo-a-stock-loser-from-the-start
Chinese ride-hailing giant Didi has filed documents with the U.S. Securities and Exchange Commission for an initial public offering (IPO) on either the Nasdaq or New York Stock Exchange under the symbol DIDI, the company said in a Form F-1.
The form didn’t disclose the number of shares, value of those shares or how much money the company plans to raise through the IPO. Goldman Sachs of Asia, Morgan Stanley, J.P. Morgan and China Renaissance are listed as underwriters.
According to Crunchbase,...
https://www.freightwaves.com/news/breaking-chinese-ride-hailing-giant-didi-files-for-us-ipo