- Title: China's Didi valued at $80 billion in mega U.S. IPO as shares soar
- Date: 30th June 2021
- Summary: GREENWICH, CONNECTICUT, UNITED STATES (JUNE 30, 2021) (REUTERS VIA ZOOM) (SOUNDBITE) (English) RENAISSANCE CAPITAL, PRINCIPAL, KATHLEEN SMITH, SAYING: "Not just this, but many other companies going public have been really moving their deals very quickly, and I think that investors are not spending a lot of time analyzing. They can barely keep up with the companies coming through the IPO window. So, perhaps we need to slow things down and get a little more analysis on the companies that we're seeing. But anyway, the market's wide open. Investors seem to want to participate. I think probably, given the valuation they put on this, it's (Didi IPO) going to be... it's going to succeed."
- Embargoed: 14th July 2021 19:09
- Keywords: Chinese ride hailing giant Didi Global IPO initial public offering
- Location: NE WYORK, NEW YORK, UNITED STATES, UNKNOWN LOCATIONS
- City: NE WYORK, NEW YORK, UNITED STATES, UNKNOWN LOCATIONS
- Country: USA
- Topics: Company News Markets,Economic Events,United States
- Reuters ID: LVA00CEJLGX1J
- Aspect Ratio: 16:9
- Story Text: China's Didi Global Inc shares soared nearly 19% in their New York Stock Exchange debut on Wednesday (June 30), valuing the ride-hailing giant at $80 billion in the biggest U.S. listing by a Chinese company since 2014.
SoftBank-backed Didi's stock opened at $16.65, compared with the initial public offering price of $14 per share.
It had priced an upsized offering of 316.8 million American Depositary Shares at the upper end of its $13 to $14 range, raising $4.4 billion.
Didi's listing in New York will be the biggest U.S. share sale by a Chinese company since Alibaba raised $25 billion in 2014.
The biggest Chinese listing in the United States so far this year was Full Truck Alliance YMM.N, often referred to as "Uber for trucks", which raised $1.6 billion.
(Production: Aleksandra Michalska)
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