Didi Plans 2024 Hong Kong Listing in Comeback Bid, Sources Say
- Ride-hailing pioneer has market share of about 70% in China
- Business improving in China and abroad in places like Brazil
This article is for subscribers only.
China’s biggest ride-hailing company, Didi Global Inc., aims to list shares on the Hong Kong stock exchange next year, plotting a comeback from an ill-fated initial public offering in New York in 2021, according to people familiar with the matter.
Didi has improved its relationship with Chinese regulators after a year-long probe that ended with an 8 billion yuan ($1.1 billion) fine last year, in part by keeping its dominance in check, said the people, asking not to be named because the discussions are private. Didi’s market share in China has declined from about 90% to roughly 70%. Chinese authorities, which forced Didi to delist last year after its debut on the New York Stock Exchange, would have to sign off on any new listing.