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DiDi shares pop as Beijing proposes a government stake

September 4, 2021
Source: capital.com capital.com
News Snapshot:
Chinese ride-hailing app DiDi saw its share rise by as much as 6% Friday following a Bloomberg News report claiming Beijing’s municipal government has proposed an investment in the company that would give state-run firms at least partial control. Investors viewed the news positively as the move could conclude persistent regulatory problems that have dogged DiDi since its $4.4bn US initial public offering (IPO) in June. “DiDi’s regulatory turbulence could end if Chinese regulators implement a government plan to invest in the ride-sharing firm, have veto rights over key decisions and levy a harsh fine,” analysts at Bloomberg Intelligence said....
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