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Didi Extends Drop to Fresh Lows as China Weighs Rule Changes

  • Ride-hailing company has lost $17 billion in value this week
  • China plans changes to block firms from listing overseas
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WATCH: Didi Global Inc. shares fell for a third consecutive day as Chinese regulators are considering closing a loophole used by firms listing their shares abroad.(Source: Bloomberg)
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Didi Global Inc. shares fell for a third consecutive day on Wednesday, hitting fresh lows, as China was said to consider closing a loophole used by firms listing their shares abroad.

The ride-hailing company fell 4.6% in New York trading to close at $11.91. The American depositary shares slumped 20% in Tuesday’s session, and now trade 15% lower than the $14 they were sold at in the IPO. Didi’s offering was the second-largest U.S.-listing for a Chinese firm on record. The company has lost over $17 billion of market value so far this week, including about $15 billion on Tuesday alone.