Tencent increased its stake in Didi to 7.4% The documents submitted to the U.S. Securities and Exchange Commission (SEC) by Didi Chuxing, the mainland's largest ride-hailing platform, show that as of the end of December last year, Tencent had done so

Tencent increases didi to 7.4% According to documents submitted to the U.S. Securities and Exchange (SEC), didi Chuxing, the largest online ride-hailing platform in mainland China, tencent (00700) held about 78.853 million Class A ordinary shares (one share, one vote), holding 7.4% of its shares as of the end of December last year.

Didi was listed in the U.S. in mid-last year when the prospectus disclosed that Tencent held about 77.068 million Class A shares, or 6.4% of the shares, meaning that Tencent had since increased its holdings. Earlier, it was reported that Didi intends to launch a listing in Hong Kong in the second quarter and is preparing to delist from New York.

Brendan Ahern, investment director of Krane Funds Advisors, said that Tencent's increase in Didi's stake reflects its optimism about Didi's prospects and reflects that the impact of Chinese policies on Internet companies may have come to an end.