On Thursday June 10, Chinese ride-hail company Didi Chuxing filed for an initial public offering with the U.S Securities and Exchange Commission. The firm filed under the business name Xiaoju Kuaizhi Inc. and plans to list on the Nasdaq. If Didi's IPO is successful, it could be one of the largest tech IPOs this year.
IPO Details
The company did not disclose the listing size, but local media is reporting that the listing will have a valuation of more than $65 billion. For the past few months, Didi was reportedly trading at a valuation of $95 billion in the secondary market. The company's filing revealed that Chinese entrepreneur Cheng Wei has 7% stake in ride-hail service. Wei's 7% stake could be worth $6.7 billion according to the Bloomberg Billionaires Index. Didi's president and ...
