By Maiya Keidan

TORONTO (Reuters), Several hedge funds were possibly affected by Didi Global Inc bets, according to filings. The shares plummeted after Didi Global Inc announced its intention to leave the New York Stock Exchange.

Didi’s shares have tumbled 56.8% from their June 30 IPO price. After Didi announced on Friday that it would delist the New York Stock Exchange to pursue a Hong Kong listing, the slide was accelerated by Chinese regulators who were angered at its U.S. debut.

According to U.S. 13F filings, Symmetric, an industry tracker, hedge funds invested in Didi’s 94.4 million shares at September’s end, down 13.2 Million shares over the prior quarter.

It is not known if hedge funds had further reduced their investment since that time, but Reuters calculations show the 7.9% fall in Didi’s shares between the end of September and Dec. 7 would have wiped a combined $60.9 million of value from those positions.

At the close of September, 27% was owned by institutional investors who were managed by Symmetric-classified hedge funds.

Symmetric note: Hedge funds might liquidate stocks that have a large percentage of stock ownership during stressful periods.

According to filings, Bridgewater Associates was the largest hedge fund that purchased shares during the third quarter.

Penserra Capital acquired 5.4 million Didi stock shares while Owl Creek Asset Management purchased 1.75 million and Seven Eight Capital 5.37.145 shares according to the filings. They showed that Paulson & Co added 1.6 million shares at the end of the third quarter while Seven Eight Capital purchased 537,145 shares.

Bridgewater, Penserra and Owl Creek did not reply to our requests for comment. Paulson, Seven Eight, Paulson, and Paulson also declined to comment.

Tiger Global Management and billionaire George Soros’ fund also held sizeable stakes in Didi at the end of the third quarter, together accounting for 4.7 million shares at end-September.

Singapore’s state fund Temasek reduced its position in Didi by 3.6 million shares as of Sept. 30, but maintained a stake of 29.4 million shares.

Tiger and Soros declined to respond to queries for comment. Temasek, however, did not reply to questions.

Although it is unknown if the firms remain invested, an executive from a major U.S.-based hedge fund said that a lot people have pulled out of Didi even though they may return later.

The executive stated that there is a possibility that mutual funds and retail investors may be restricted from owning shares listed in Hong Kong. If this happens, they will have to sell their stock.

Among the public pension plans that held shares of Didi were Canada Pension Plan (CPP), Montreal-based Caisse de dépôt et placement du Québec and the California Public Employees’ Retirement System (CalPERS).

Caisse spokeswoman declined to comment, while CalPERS and CPP could not immediately be reached.