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Deepti Sri · · 1 min readReport: Didi Chuxing planning for an IPO in the next quarter
“Chinese ride-hailing giant Didi Chuxing is accelerating plans for an initial public offering to as early as next quarter to capitalize on a post-pandemic turnaround,” reported Bloomberg, citing people familiar with the matter.
Details:
- Didi is aiming for a valuation of over US$62 billion, which is the amount that the company achieved in its previous financing round.
- The company could potentially list itself earlier than planned, with standard estimates for big-ticket Hong Kong IPOs putting Didi’s potential raise at US$9 billion. However, the timing and place of the listing are still in a preliminary stage of discussions.
Context:
- This development comes after the company said in May 2020 that its core business had been profitable amid China’s recovery from Covid-19.
- Didi Chuxing is also reportedly planning to make its debut in Western Europe as it seeks to enter new markets.
Editing by Miguel Cordon and September Grace Mahino
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