In the U.S. premarket trade, shares in Didi slumped 25% and the trade after the ride-hailing giant’s app.
That app got taken down from mobile app stores in China on Sunday and the shares got listed with a blow to the $75 bln company in New York last week.
On Monday Didi said that the Cyberspace Administration of China’s ban on the app would have not created a good impact on its revenue despite it remaining available for existing users.
Didi shares were sold at $14 each in the IPO which was the largest listing of a Ca Chinese company in the US since Alibaba raised $25 billion in 2014 on Tuesday.
Didi shares were trading at $11.59, well below their debut price of $16.65 on June 30. The Chinese company in the US since Alibaba raised $25 billion in 2014 in pre-market trading.
had ordered app stores to stop offering Didi’s app after finding that the company had illegally collected users’ personal data, CCA said.
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