Shares of Chinese ride-sharing company Didi Global Inc. DIDI, +15.98% fell about 9% in premarket trade Friday, after China’s internet regulator said it’s investigating the company’s cybersecurity risks, Dow Jones Newswires reported. The news comes just days after Didi’s initial public offering in New York, the biggest deal in a busy week, in which the stock opened with a nearly 20% pop, but ended just 1% higher than the issue price. No new user registration will be allowed during the review, the Chinese regulator said. Didi said it will fully cooperate and examine its risks. The stock closed Thursday at $16.40, compared with its IPO price of $14. DiDi is one of a handful of Chinese companies being investigated by the government over antitrust concerns.
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