Tencent’s share in Didi Class A shares rises to 7.4%

After a notice from US regulators showing a surge in share prices drove shares in a Chinese taxi business to rise about 9%, Tencent Holding Ltd. declared that it had not bought stock in Didi Clobal Inc. since it became public.

Tencent says it added roughly 1.8 million Class A shares of Didi common stock to its latest known holdings in a report released on Thursday.

WeChat operator acquires previously unknown shares through IPO

“During Didi’s previously unannounced initial public offering, the social media behemoth purchased extra shares.” Tencent, which controls the messaging app WsChat, has not purchased any additional shares since its initial public offering, according to a Tencent representative on Friday.

Tencent’s stake in Didi’s Class A shares was 7.4% as of December 31, up from 6.4 percent declared ahead of the initial public offering in June.

Since Chinese authorities initiated a probe in July, citing data security concerns, Didi’s market value has dropped by $47 billion. Since then, Beijing has ordered over two dozen Didi apps to be removed from app shops.

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