(WSJ) Didi stock jumped more than 53% in premarket on Monday after reports emerged that Chinese regulators were concluding a probe on the ride-hailing giant.
Reprieve was also reportedly granted to logistics firm Full Truck Alliance Co. and Online recruitment service Kanzhun Ltd. The apps of the two firms will be allowed back on Chinese app stores this week.
Alongside Didi, the three companies will be allowed to add new users in a move that gives optimism to the stocks that have been dampened by the ongoing Chinese crackdown.
The three companies will, however, be mandated to offer around 1% equity stakes to the state. The government will also exercise a direct role in corporate decisions.
DIDI is up 53.13% in premarket trading.
