More than 50% of the voting rights of Didi’s management: 7% of Cheng’s shares and 1.7% of Liu Qing’s shares

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On the morning of June 11, Beijing time, Didi formally submitted its IPO prospectus to the sec. According to the prospectus, before the IPO, the founder and CEO of didi held 7% shares, while Liu Qing, co-founder and President, held 1.7%.
According to the conventional arrangement of different rights in the same share of the company, Cheng weiliuqing has more than 48% of the voting rights in total, and didi management including Cheng weiliuqing has more than 50% of the voting rights.
At present, many domestic Internet companies such as Jingdong, Xiaomi and pinduoduo have adopted the mode of AB shares, that is, the same shares with different rights. The founders such as Liu qiangdong, Lei Jun and Huang Zheng also take advantage of this mode. Although they have not reached the degree of absolute holding, they can firmly control the company.