Didi staff barred from selling shares indefinitely

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Didi staff barred from selling shares indefinitely

On its headquarters in Beijing, the sign of Chinese ride-hailing service Didi is seen.

The Chinese ride-hailing giant Didi Global Inc has been barred from selling stock of the company indefinitely, according to people familiar with the matter, according to people familiar with the matter.

The 180 day lock-up period after the company's initial public offering, during which current and former staff were not allowed to sell shares, was supposed to end on December 27 but the prohibition has been extended without a new end date, the report said.

Employees won't be able to sell shares until after the company has listed in Hong Kong, according to the report.

The Beijing-based ride-hailing giant has been threatened by a regulatory crackdown in China that has forced it to delist from the New York Stock Exchange and pursue a Hong Kong listing.

After its NYSE debut in June, the powerful Cyberspace Administration of China told the company to stop registering new users. Its apps are under investigation.