Didi Falls on Wall Street Following Announcement of China Investigation

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New York, Jul 2 (EFE) .- The shares of the Chinese firm Didi, one of the largest private transport companies in the world and which debuted this week on Wall Street, fell sharply on Friday after the Beijing authorities announced the opening of a cybersecurity investigation against him.

After the equator of the trading session, Didi titles were left more than 8% in response to these inquiries, of which little details have been offered.

The Administration for Cyberspace of China said on its website that it will carry out a cybersecurity review of Didi, that while the investigation lasts, it will not be able to register new users.

The announcement comes two days after the company’s debut on the New York Stock Exchange, where it skyrocketed in its initial session to reach a market valuation close to $ 80 billion.

The firm, a Chinese equivalent to Uber, thus starred in one of the most successful stock market debuts in recent years on Wall Street.

In its last round of private financing, its value was estimated at about 62,000 million, and the predictions about its capitalization ranged from 70,000 million to 100,000 million in the most optimistic scenario.

According to its documentation to the Securities Market Commission (SEC), it had revenues of $ 21.6 billion last year and net losses of $ 2.54 billion.

In the most recent quarter, the first of 2021, it entered 6.4 billion and achieved a slight profit of 95 million.

(c) EFE Agency

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