Didi Denies It Has Plans To Go Private After $4.4B IPO

Ride-hailing company Didi Global on Thursday, July 29, denied a media report that the company was considering going private to placate Chinese authorities and compensate investor losses since it listed in the United States.

The Wall Street Journal, citing people familiar with the matter, reported that the Chinese company has been mulling delisting plans as a crackdown in China widens and it has received support from cybersecurity regulators.

Didi, which listed in New York last month after raising US$4.4 billion in an initial public offering (IPO), said in a statement that the WSJ report was not true.

“The company affirms that the above information is not true,” it stated in reference to the report. “The company is fully cooperating with the relevant government authorities in China in the cybersecurity review of the company.”

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