Some hedge funds may have lost millions on bets on China’s Didi Global

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A screen displays trading information for ride-hailing giant Didi Global on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., December 3, 2021. REUTERS/Brendan McDermid

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TORONTO, Dec 8 (Reuters) – Several hedge funds may have been bruised by bets on Didi Global Inc (DIDI.N), filings showed after the shares tumbled since the Chinese ride-hailing company announced plans to withdraw from the New York Stock Exchange.

Didi’s shares have tumbled 56.8% from their June 30 IPO price. The slide accelerated after the company said on Friday it planned to delist from the New York Stock Exchange and pursue a listing in Hong Kong, bending to Chinese regulators angered by its U.S. debut. read more

Hedge funds were invested in 94.4 million shares of Didi at the end of September, down 13.2 million shares from the…

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