NEW YORK: Chinese ride-hailing giant Didi Chuxing plans to raise up $4 billion in a US initial public offering, which would reportedly be one of the biggest in the country in the past 10 years. The move also comes despite simmering China-US tensions, with the technology sector a key issue of disagreement.
In a filing to the Securities and Exchange Commission late Thursday, the company - under the name Xiaoju Kuaizhi - said it would put 288 million American depository receipts up for sale priced at $13-$14. A sale at the top end would value the firm at more than $60 billion.
The IPO would be the sixth-biggest in the United States in the past decade, according to Bloomberg News. However, when it filed to list earlier this month, the firm warned that tensions between the US and China was an ongoing risk for its business, as was the possibility of action over antitrust regulations as Beijing cracks down on some of its biggest tech giants.
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