{"id":288326,"date":"2021-06-30T21:19:27","date_gmt":"2021-06-30T18:19:27","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/chinese-uber-didi-valued-at-80b-in-us-ipo-as-shares-soar\/"},"modified":"2021-06-30T21:19:27","modified_gmt":"2021-06-30T18:19:27","slug":"chinese-uber-didi-valued-at-80b-in-us-ipo-as-shares-soar","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/chinese-uber-didi-valued-at-80b-in-us-ipo-as-shares-soar\/","title":{"rendered":"#\u2018Chinese Uber\u2019 Didi valued at $80B in US IPO as shares soar"},"content":{"rendered":"

“#\u2018Chinese Uber\u2019 Didi valued at $80B in US IPO as shares soar<\/strong>”<\/p>\n

\n

Shares in Didi, the largest ride-hailing firm in China, soared nearly 19 percent in their New York Stock Exchange debut Wednesday, valuing the ride-hailing giant at $80 billion in the biggest US listing by a Chinese company since 2014.<\/p>\n

SoftBank-backed Didi\u2019s stock opened at $16.65, compared with the initial public offering price of $14 per share. It had priced an upsized offering of 316.8 million American Depositary Shares at the upper end of its $13 to $14 range, raising $4.4 billion.<\/p>\n

Didi\u2019s listing in New York will be the biggest US share sale by a Chinese company since Alibaba raised $25 billion in 2014.<\/p>\n

The biggest Chinese listing in the United States so far this year was Full Truck Alliance, often referred to as \u201cUber for trucks,\u201d which raised $1.6 billion.<\/p>\n

Didi, which is also backed by technology<\/a> investment giants Alibaba, Tencent and Uber, was founded in 2012 by Cheng Wei as Didi Dache, a taxi-hailing app<\/a>. It merged with peer Kuaidi Dache to become Didi Kuaidi and was later renamed Didi Chuxing.<\/p>\n

Chief Executive Cheng, who was born in 1983 in a small town in the southeastern province of Jiangxi and once worked as an assistant to the head of a foot massage firm, was worth $1.2 billion prior to Didi\u2019s market debut, according to Forbes.<\/p>\n

At the debut price, Cheng\u2019s stake in Didi is worth $5.22 billion. He got the idea for a ride-hailing platform on a freezing winter night in Beijing when he had trouble getting a taxi.<\/p>\n

\n
\"Cheng
Didi CEO Cheng Wei got the idea for a ride-hailing platform on a freezing winter night in Beijing when he had trouble getting a taxi.<\/figcaption>
China News<\/a> Service via Getty Images<\/span><\/figcaption><\/figure>\n<\/div>\n

SoftBank is Didi\u2019s largest investor and will own a 20.2% stake in the firm following the IPO. Tencent will hold 6.4%, while Uber will retain 12% of Didi. Cheng will own a 6.5% stake in the company he built.<\/p>\n

Didi, the world\u2019s largest mobility-technology platform, went on to buy rival Uber\u2019s China business in 2016 and the San Francisco-based company retained a stake in Didi at the time.<\/p>\n

The company in 2018 decided to invest $1 billion in its auto services business, part of a larger unit rebranding. It has also invested heavily to expand its core business outside its home market by either pouring money in local partners or launching their services.<\/p>\n

\n
\"A
Didi has invested $1 billion in its auto services business.<\/figcaption>
Xinhua News Agency\/Getty Images<\/span><\/figcaption><\/figure>\n<\/div>\n

Didi has a dominant position in the online ride-hailing business in China and operates in 4,000 locations across 16 countries. It has more than 490 million annual active users, according to a recent regulatory filing.<\/p>\n

Its offerings include private car-hailing, sharing bikes, delivery, freight and logistics, and financial services.<\/p>\n

Didi\u2019s listing also makes it the latest Chinese firm to tap US capital markets amid tensions between Washington and Beijing.<\/p>\n

Despite the political sparring, 29 Chinese firms raised $7.6 billion in US IPOs in the first six months of the year, according to Refinitiv data.<\/p>\n

Morgan Stanley Investment Management had indicated interest in subscribing up to $750 million worth of stock in Didi\u2019s IPO and Singapore\u2019s Temasek $500 million.<\/p>\n

Goldman Sachs (Asia), Morgan Stanley and JPMorgan were the lead underwriters.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#\u2018Chinese Uber\u2019 Didi valued at $80B in US IPO as shares soar” Shares in Didi, the largest ride-hailing firm in China, soared nearly 19 percent in their New York Stock Exchange debut Wednesday, valuing the ride-hailing giant at $80 billion in the biggest US listing by a Chinese company since 2014. SoftBank-backed Didi\u2019s stock opened…<\/p>\n","protected":false},"author":1,"featured_media":288327,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/06\/didi-80B-ipo-valuation.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[110714,4973,5007,73424],"class_list":["post-288326","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-6-30-21","tag-china","tag-ipo","tag-ride-sharing"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/288326","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=288326"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/288326\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/288327"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=288326"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=288326"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=288326"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}