- 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.
