Chinese ride-hailing giant DiDi has denied a report that it’s considering going private to appease the country’s authorities.

Shares in DiDi (DIDI) spiked by around eight percent following the report from the Wall Street Journal as investors bet on a smoother ride for DiDi going forward.

DiDi, which is backed by Apple, has been targeted by Chinese authorities following its $4.4 billion listing on the New York Stock Exchange (NYSE).

Earlier this month,...