Sumary of Didi falls on reports that China is planning heavy penalties for the ride-share giant following its US IPO:
- Didi slipped on news that China is considering serious penalties for the firm following its US IPO.
- Shares of Chinese ride-hailing giant Didi slipped on Thursday on news that regulators in China are considering serious penalties for the company following its blockbuster IPO in the US. Didi shares were down as much as 10% as of Thursday noon ET.
- ” Didi’s June 30 New York Stock Exchange debut was the second-largest among Chinese companies after e-commerce giant Alibaba’s IPO in 2014. Shares of Didi, the second-largest ride-hailing app by market capitalization in the world, soared as much as 28% at its public trading debut.