JPMorgan Chase CEO Jamie Dimon told FOX Business on Tuesday that he might make business decisions in Beijing and different from the Didi Global IPO, shares of which plunged after the government launched a regulatory campaign against the ride-sharing giant.
When asked about how much money his company, which underwrote the Uber of China IPO, lost in an interview with FOX Business' Maria Bartiromo, Dimon shrugged off the situation as life in the fast lane.
This happened by Dimon however, that he can get so mad when thinking about doing work on the next big deal in China.
The full interview with Maria will air on FOX Business Wednesday during 'Mornings With Dimon".
Didi Global, Inc. a Chinese ride-sharing company went public on the New York Stock Exchange in June. However, shortly after its public trading debut, regulators in China launched a data security investigation and banned the firm from app stores. The actions were taken by the Chinese government based on an investigation found purported flaws in how the company collected and stored personal data.
Shares lost billions of market value during the first few days of trading.
In the aftermath of the IPO, regulators in China indicated there would be greater scrutiny of the listed companies on international exchanges. The move also prompted backlash from U.S. investors in these companies.
Firms that represent shareholders have filed class-action lawsuits against Didi and its underwriters, alleging that misleading statements were made in the lead-up to initial public offering.
In addition to JPMorgan Chase, Goldman Sachs and Morgan Stanley were primary underwriters on the deal.
When it comes to his company's operations in China, JPMorgan says Dimon Does not share its data with the Chinese government. However, he did acknowledge that data sharing is a real issue in the country for now.