HomeBusinessChina’s Didi raises $4.4 bln in upsized U.S. IPO -sources

China’s Didi raises $4.4 bln in upsized U.S. IPO -sources

  • June 30, 2021
  • Posted by: Stratford Team
  • Category: Business
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  • Didi sold 317 mln ADS, more than planned 288 mln -sources
  • Sells ADS at $14 a piece – sources
  • Would give Didi $73 bln valuation on fully diluted basis

June 29 (Reuters) – Chinese ride hailing company Didi Global Inc (DIDI.N) raised $4.4 billion in its U.S. IPO on Tuesday, pricing it at the top of its indicated range and increasing the number of shares sold, according to two sources familiar with the matter.

Didi sold 317 million American Depository Shares (ADS), versus the planned 288 million, at $14 apiece, the people said on condition of anonymity ahead of an official announcement.

This would give Didi a valuation of about $73 billion on a fully diluted basis and $67.5 billion on a non-diluted basis.

The decision to increase the deal size came after the Didi investor order book was oversubscribed multiple times, one of the sources said. The company is expected to debut on the New York Stock Exchange on June 30.

Didi did not respond to a request for comment.

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