Didi Global Says It Faces U.S. Probe Related to IPO

(Bloomberg) — The U.S. Securities and Exchange Commission is investigating Didi Global Inc.’s chaotic 2021 debut in New York, when the ride-hailing giant raised $4.4 billion days before revelations of a Chinese probe into data security tanked the stock.

Didi’s shares slid 7% in extended trading, deepening an 85% loss since its initial public offering in the summer of last year. The Chinese company said it’s cooperating with the probe, without providing further details.