However, the company could raise around $10 billion and seek a valuation of close to $100 billion, sources familiar with the matter told Reuters.  Tha

Didi: Chinese ride-hailing giant files to go public in US

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2021-06-11 07:30:01

However, the company could raise around $10 billion and seek a valuation of close to $100 billion, sources familiar with the matter told Reuters.

That would make it the biggest share offering in the United States by a Chinese company since 2014, when e-commerce giant Alibaba raised $25bn (£15bn).

It also has businesses interests in electric vehicle charging networks, fleet management, car making and autonomous driving. It has expanded into 15 countries, but China remains its biggest market.

Didi did reveal slower revenue growth as a result of the Covid-19 pandemic in its filing, 9% lower than the previous year. However, as China opened up, the company has recovered strongly.

Didi already has its fair share of investors. In 2016, US tech giant Apple ploughed $1bn (£800m) into Didi in an unusually large and public investment - thought to be related to Apple's development of autonomous vehicles.

Ride-hailing giant Uber also has a stake - owning 12.8% of shares - after it retreated from China in 2016, selling its ride-hailing business there to Didi.

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