Didi Chuxing aims for over $67b valuation in NYSE debut
China's ride-hailing giant Didi Chuxing priced listing shares at $14 apiece in its New York Stock Exchange debut, giving the company a valuation of more than $67 billion, media portal The Paper reported.
Didi planned to offer 288 million American depositary shares, and expected to raise over $4 billion in the IPO.
As Didi shares saw robust demand among prospective investors, the IPO has been oversubscribed 10 times after submitting the prospectus.
According to statistics, Didi operates the world largest mobility platform covering 16 countries in the world, with about 493 million active users and 15 million active drivers annually by March 31, 2021.
For net proceeds of this offering, the company plans to invest approximately 30 percent in technology capabilities, including shared mobility, electric vehicles and autonomous driving technologies.
About another 30 percent will be used to grow its presence in international markets, and 20 percent in introducing new products and expanding existing offerings for consumers, Didi's prospectus said.
