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Didi Global Stock Rallies – Denies Reports it Plans to go Private

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Updated 29 Jul 2021
Didi Global's (NYSE: DIDI)

Chinese ride-hailing company Didi Global's (NYSE: DIDI) share price is rallying premarket after denying reports that it was considering going private.

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A Wall Street Journal report said the company was looking at delisting to appease Chinese authorities following crackdowns on tech firms in the country.

The Wall Street Journal said the company had received support from cybersecurity regulators, according to people familiar with the matter.

However, the company has stated on Weibo, a Chinese social media site, that the “rumour” was incorrect. Furthermore, the company said it is “actively and fully” cooperating with a cybersecurity investigation.

Didi listed in New York in June, raising $4.4 billion in an IPO.

Its share price rallied over 40% following the WSJ report. However, it is now trading at $10.57, up 19.28% premarket on Thursday. On its market debut, Didi's stock price reached a high of $18 per share.

Should you invest in Didi Global shares?

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