- State-owned biggest automobile conglomerate automaker China FAW Group Co is looking to scoop a significant stake in the troubled DiDi Global Inc DIDI, Bloomberg reports.
- FAW aspired to be a significant shareholder and help Didi pave the way for a Hong Kong listing.
- Previously Beijing Tourism Group division Shouqi Group and other Beijing-based companies harbored similar aspirations.
- Shareholders recently approved DiDi's U.S. delisting plans that could see more selloff from investors not allowed to hold unlisted shares.
- The plan to delist comes almost a year after DiDi proceeded with its $4.4 billion U.S. initial public offering amid odds.
- Price Action: DIDI shares traded higher by 10.80% at $2.05 in the premarket on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
