Didi Joins China’s Worst U.S. IPOs After New Regulatory Pressure
- Shares are now trading 26% below IPO price set in June
- Chinese regulators are reportedly considering penalties
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Didi Global Inc. is quickly becoming one of the worst IPOs of this year among foreign companies on news China is mulling additional penalties -- from fines to a delisting -- for the ride-hailing giant.
Didi shares tumbled nearly 10% Thursday in New York, extending their decline to 26% below the initial public offering price set less than a month ago after Bloomberg reported Chinese regulators are considering harsher measures.