DiDi Global Inc. (DIDI) is a Chinese ride-sharing startup.
On Monday, the company announced intentions to offer 288 million American Depositary Shares at a price range of $13 to $14 per in its much-anticipated initial public offering. One Class A share is equal to four ADs, so the deal will provide 72 million Class A shares. The company has applied to list under the ticker “DIDI” on the New York Stock Exchange. The purchase is being underwritten by a total of 20 institutions, led by Goldman Sachs, Morgan Stanley, and JP Morgan. The firm claims to be the world’s largest mobility technology platform, with 493 million yearly active users in the 12 months leading up to the first quarter of 2021, and a presence in 16 counties and approximately 4,000 cities, counties, and municipalities, according to its IPO paperwork. The money raised from the sale will be utilized to improve the company’s technological capabilities, expand its presence in certain countries outside of China, and offer new goods. Continue reading
