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Benzinga
Benzinga
Business
Anusuya Lahiri

Here's Why DiDi Shares Are Trading Higher Premarket

Didi FAW DiDi Global Inc NYSE Beijing Hong Kong United States
  • State-owned biggest automobile conglomerate automaker China FAW Group Co is looking to scoop a significant stake in the troubled DiDi Global Inc (NYSE: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.
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