- 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: "So the valuation is I think it's pretty reasonable because I think by pricing, pricing where it is, investors see a path for where the company could be worth upwards of $100 billion, in some ways compared to Uber, which only grew, is only expected to grow about 40 percent year-over-year this year. This company is growing at more than twice that. It's averaged almost 100 percent revenue growth rate over each of the last three years or so. So, again, I think this is an IPO that investors do not want to miss."
- 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: LVA009EJBI3BB
- 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)
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