Here's Why DiDi Shares Are Trading Higher Premarket

May 27, 2022 7:28 AM | 1 min read | Make a Comment

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.