Didi Global shares fall further below IPO price after China's rule changes

Didi Global shares fell for a third consecutive day on Wednesday, dropping further below last week’s initial public offering (IPO) price, as China was said to consider closing a loophole used by firms listing their shares abroad.

The ride-hailing company fell as much as 6.5 per cent and traded at $11.77 as of 10 am in New York. The American depositary shares slumped 20 per cent in Tuesday’s session, and now trade more than 15 per cent from the $14 they were sold at in the IPO. 

Didi’s offering was the second-largest US-listing for a Chinese firm on record. The company has