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Tencent increases stake in Chinese ride-hailing giant Didi but shares drop after initial pop

February 12, 2022
Source: vnexplorer.net vnexplorer.net
News Snapshot:
Budrul Chukrut | LightRocket | Getty Images Chinese internet giant Tencent has increased its stake in ride-hailing firm Didi, sending the shares of the U.S.-listed company up more than 8% on Wednesday. However, shares of Didi were down around 5% in pre-market trade on Thursday. Tencent added about 1.78 million Class A Ordinary shares at the end of last year, according to a regulatory filing published Wednesday. That has brought Tencent's stake in Didi to 7.4% as of Dec. 31, up from 6.8% at the time of the ride-hailing firm's disastrous initial public offering in June. Didi is a politically...
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Tags: anti-monopoly | Beijing | China | Chinese | cybersecurity | data | delist | Didi | e-commerce | gaming | Giant | Hong Kong | initial public offering | Internet | investor | ipo | IT | JD | New York | online game | retail | Singapore | stock exchange | technology | Tencent

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