BEIJING: Chinese ride hailing company Didi Global Inc raised US$4 billion in its US initial public offering yesterday, pricing it at the top of its indicated range, according to people familiar with the matter.
The listing, which will be the biggest US share sale by a Chinese company since Alibaba raised US$25 billion in 2014, comes amid record IPO activity this year as companies rush to capture the lucrative valuations seen in the US stock market. “But it seems like many investors like this deal, the volatile IPO environment helped to lower IPO price and valuation looks attractive,” Kim told Reuters.
Didi was co-founded in 2012 by former Alibaba employee Will Wei Cheng, who currently serves as the chief executive officer.
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