On October 13, Beijing time, people familiar with the matter said that Didi Chuxing plans to be listed on the Hong Kong Stock Exchange in 2024 and begin to buy back employee shares. People familiar with the matter said Didi has recently notified current employees to allow them to sell their shares back to the company under the employee stock ownership plan, which is seen as part of the company's preparations for listing in Hong Kong.
According to several former Didi employees, the 180-day lock-up period for Didi shares was previously extended, and some Didi employees sold stock options during a brief window in early 2022.
Meanwhile, major investors such as SoftBank Group may be able to recoup some of their losses by re-listing Didi. SoftBank is estimated to have invested approximately US$11 billion in Didi and currently holds a 20% stake in Didi, valued at approximately US$3.2 billion.
As of press time, Didi has not commented on this. SoftBank declined to comment.