China’s top food delivery company Meituan slid a record 18% Tuesday in Hong Kong, on top of a 14% plummet the previous day.
BEIJING: Meituan has shed more than $60 billion of its market value over two frenetic trading sessions, after Beijing unveiled sweeping reforms against private-sector companies that darkened the outlook for the world’s No 2 economy.
China’s top food delivery company slid a record 18% Tuesday in Hong Kong, on top of a 14% plummet the previous day. Spreads on Meituan’s dollar bond due 2030 rose 16 basis points to 232 basis points, set for the widest on record, Bloomberg-compiled data showed.
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