Daily Management Review

Chinese taxi service DiDi aims for $100B IPO in New York


China's largest taxi service Didi is leaning towards choosing New York for its initial public offering and expects the company to be valued at $100bn in an IPO.

This was reported to Reuters by knowledgeable sources. According to them, the Chinese company is also considering a second offering in Hong Kong after the IPO in New York.

Sources note that New York's preference for Hong Kong as a listing venue is due to DiDi's concerns that stricter scrutiny awaits it in Hong Kong. In particular, problems could arise over the use of vehicles without a licence, for which the company has already been fined in Shanghai in 2019.

The Chinese company itself told Reuters that it has no concrete plan for the location or timing of the IPO. At the end of the last investment round DiDi is valued at $62 billion. DiDi's intention to go public a few days ago was reported by Bloomberg, citing its sources, to make the most of the conditions provided by the growth of the economy after the pandemic.

source: reuters.com