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Friday, July 30, 2021

China’s DiDi to list on New York Stock Exchange


DiDi Global Inc., China’s largest ride-hailing company, said in a filing on Thursday it would list on the New York Stock Exchange.

The company said it would offer 288 million American Depositary Shares (ADSs) in its initial public offering (IPO). Four ADSs would represent one Class A ordinary share.

Backed by Asia’s largest technology investment firms, SoftBank, Alibaba and Tencent, DiDi is gearing up for what is expected to be the world’s biggest IPO this year.

DiDi set a placeholder amount of $4.6 billion for the IPO.The IPO could rake in as much as $10 billion for the company when it sets terms, Reuters had reported.

Goldman Sachs (Asia), Morgan Stanley and JP Morgan are the lead underwriters for the IPO.



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