Didi lost a fifth of its market value after Chinese regulators announced an investigation into the ride-hailing app that last week raised more than $4bn in a New York IPO.
China sparked investor unease in New York before the start of trading when it said it would tighten restrictions on overseas listings, endangering the lucrative pipeline of Chinese companies keen to raise capital on Wall Street.
China’s top government body, the State Council, said it would act to strengthen the protection of sensitive data related to overseas listings, and “consolidate the information security responsibilities of overseas listed companies”.
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