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China’s Didi raises $4 billion in U.S. IPO

© Reuters. FILE PHOTO: A Didi logo is seen at the headquarters of Didi Chuxing in Beijing, China November 20, 2020. REUTERS/Florence Lo/File Photo

(Reuters) – Chinese ride hailing giant Didi Global Inc raised $4 billion in its U.S initial public offering (IPO) on Tuesday, pricing it at the top of its indicated price range, according to a source with direct knowledge of the matter.

Didi will sell 288 million American Depository Shares (ADS) at $14 apiece, the source said. This gives Didi a valuation of approximately $73 billion on a fully diluted basis.

The source asked not to be identified ahead of an official announcement. Didi did not immediately respond to a request for comment.

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