Didi's $4 bln IPO 'that investors do not want to miss,' says analyst

Record ID: 1623789

  • Title: Didi's $4 bln IPO 'that investors do not want to miss,' says analyst
  • Date: 28th June 2021
  • Summary: NEW YORK, NEW YORK, UNITED STATES (JUNE 28, 2021) (REUTERS VIA ZOOM) (SOUNDBITE) (English) KRANESHARES, CHIEF INVESTMENT OFFICER, BRENDAN AHERN, SAYING: "To do an IPO the size of Didi, there really is only one market where that can be done, and that's here in the United States. Hong Kong does have a very robust IPO market and they've done some big IPOs, but really, the U.S. really is the capital for global financial markets, it garners a global investor base, in addition to a very large asset management community, and therefore, there's really only one place you can do an IPO the size of Didi, which is here in the United States, which is why they chose it over the Hong Kong listing."
  • Embargoed: 12th July 2021 18:48
  • Keywords: ADS American Depositary Share Brendan Ahern China's biggest ride-sharing firm Didi Global Inc IPO KraneShares U.S. initial public offering ride-sharing
  • Location: NEW YORK, NEW YORK, UNITED STATES, BEIJING, CHINA
  • City: NEW YORK, NEW YORK, UNITED STATES, BEIJING, CHINA
  • Country: USA
  • Topics: Company News Markets,Economic Events,United States
  • Reuters ID: LVA00BEJBI3BB
  • Aspect Ratio: 16:9
  • Story Text: China's biggest ride-sharing firm Didi Global Inc will close the investor order books for its U.S. initial public offering (IPO) to raise up to $4 billion one day early on Monday (June 28), two people with direct knowledge of the matter said.
    The people could not be identified as the information is not yet public. Didi did not respond to a request for comment.
    The books will close at 5pm in each region on Monday, the people said.
    The listing in New York, which will be the biggest U.S. share sale by a Chinese company since Alibaba raised $25 billion in 2014, is expected to price on Tuesday (June 29), and the shares to start trading on Wednesday (June 30).
    At the top of the range, the deal will raise $4.03 billion.
    An overallotment option could see the company sell an extra 43.2 million shares to raise up to an extra $605 million.
    At the flagged price range, Didi would be worth $62.4 billion to $67.2 billion.
    (Production: Aleksandra Michalska)
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2021. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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