Didi pushes back on IPO rumors

Famous Beijing-based giant Didi denied any allegations of plans to go private in a bid to satisfy the Chinese government amidst latest regulations concerning users’ data security.   After the Wall Street Journal released a report discussing the possibility of Didi going private, the ride-hailing app’s shares increased by approximately 50 percent in Thursday’s pre-market trade.  The company has been targeted by Beijing regulators ever […]

Didi’s shares drop as more penalties loom

Chinese ride-hailing titan Didi plunged by more than 11 percent in New York shares on Thursday, following whispers of impending new penalties by Beijing on the company. The ride-hailing giant is once more exposed to further pressure from the Chinese government leading to harmful impact on its revenues after trustbusters ordered it to be removed […]