Didi’s Early Investors Get Window to Exit After IPO Disaster
- Lockup expiry on Dec. 27 allows big holders to sell shares
- Declines since its June listing have wiped out $40 billion
The Didi Global Inc. app for download on the Apple Inc. App Store on a smartphone in Hong Kong.
Photographer: Paul Yeung/BloombergThis article is for subscribers only.
The end of a lock-up period after a new listing is often a triumphant time when pre-IPO investors can cash out and book profits. For Didi Global Inc., whose shares have lost more than half of their value since going public, it’s a different story.
Regulatory crackdowns on both sides of the globe, culminating with the announcement of Didi’s plans to de-list in New York, have weighed on the Chinese-ride hailing giant. It’s lost $40 billion in market value since the June IPO -- a stunning blow for what was expected to be one of the largest and most successful deals in 2021.