Didi’s robotaxi on display at WAIC on August 30, 2019 in Shanghai. Credit: TechNode/Shi Jiayi
Chinese ride-hailing company Didi said on Tuesday it has no timeline set for when it will list again on public markets, amid rumors that it is preparing for an initial public offering in Hong Kong two years after being delisted from the New York Stock Exchange. The comments came after The Information reported on Monday that representatives from the Chinese ride-hailing giant have been approaching potential US-based investors over the past few months, joining meetings and calls organized by investment banks such as Morgan Stanley and Goldman Sachs. Bloomberg reported last October that the ride-hailing platform hoped to list shares in Hong Kong in 2024, although that was a year later than previously planned, according to The Information report. The company said it has been maintaining regular communication with investors to keep them updated on the progress of it’s business, although there is no timetable at present regarding a potential IPO. Didi’s revenue increased 14.9% year-on-year on the back of a 30.3% growth in total trips in the January-March quarter, as the firm’s business returns to normal following its delisting from the US and a major investigation into its practices in China. [The Information]
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