REUTERS -Didi Global Inc, China's largest ride-hailing company, is aiming for a valuation of more than US$60 billion in its New York Stock Exchange debut, setting it up for what is likely to be the biggest U.S. initial public offering this year.
The IPO will be the one of the biggest U.S. share sales by any Chinese company since Alibaba raised US$25 billion in 2014. Before settling for New York, Didi had considered Hong Kong as a potential venue for a multi-billion dollar IPO in 2021.Excluding China, Didi, the world's largest mobility-technology platform, operates in 15 countries and has more than 493 million annual active users globally.
It became the top online ride-hailing business in China after market-share battles with Alibaba-backed Kuaidi and Silicon Valley-based Uber's China unit, both of which were merged with Didi when investors sought profit from the money-losing businesses.
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