By Dhirendra Tripathi

Investing.com – Didi Global ADRs (NYSE:) traded nearly 2% higher in Tuesday’s premarket after the conclusion of a post-listing lock-up of shares took them down to a record low of $5.29 in the previous session.

Softbank (OTC) and Uber (NYSE), who were backers of the ride-hailing firm, listed their shares on the NYSE June 30, respectively. They could not sell their shares until the end of the 180 day lock-up period that began on June 29, based on its prospectus’ June 29 listing date.

The company’s selling its shares till it lists in Hong Kong – reported first by Financial Times — also weighed on the shares Monday. There was another factor behind that weakness that swept other Chinese shares too with it – that of Chinese authorities in new rules to curb new offshore listings in sectors restricted from foreign investment.

Didi stock traded at $14 per share for a short time after its listing, when it was subject to regulatory scrutiny. On Thursday, the stock was closed at $5.30

Didi has had to bear the brunt of the Chinese authorities’ wrath for ignoring their advice to delay its public offering, pending scrutiny of its data handling practices. That didn’t go down well with the regulators in China, which then asked it to stop onboarding new users while also mandating online stores to take its apps off their platforms.

When Didi decided earlier this month to withdraw from the NYSE in favor of listing in Hong Kong, the fates of investors were set. Didi said that the company will make sure its NYSE-listed stock converts into tradable stock on another stock market.