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China tech

Didi blocks employees from selling shares indefinitely

Chinese ride-hailing group extends lock-up period after moving to delist from New York

Didi announced in December it would delist from the U.S. and pursue a listing in Hong Kong.   © Reuters

BEIJING (Financial Times) -- Didi Chuxing has barred current and former employees from selling shares in the company indefinitely, dealing a new blow to staff of the Chinese ride-hailing group that has come under intense regulatory scrutiny after listing in New York.

Dec. 27 was supposed to mark the end of a 180-day period during which current and former staff were not permitted to sell shares, but the prohibition has been extended without a new end date being set, according to people familiar with the matter.

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