The Wall Street Journal

China’s Didi seeks to raise nearly $4 billion in IPO

Published: June 24, 2021 at 7:09 p.m. ET

By

Corrie Driebusch

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Company targets valuation of up to $67 billion

A taxi driver uses the Didi Chuxing app while driving along a street in Guilin, in China's southern Guangxi region.

AFP/Getty Images

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Didi Global Inc., the Beijing-based ride-hailing company, is targeting a valuation of $62 billion to $67 billion in its IPO, according to its latest public filing.

The fully diluted valuation, which typically includes restricted stock units, could eclipse $70 billion, people familiar with the matter told The Wall Street Journal.

Didi DIDI, is looking to raise $3.9 billion in the initial public offering by selling 288 million American depositary shares, assuming they price at the midpoint of its targeted range of $13 to $14 per ADS, the filing said.

Didi, which recently changed its corporate name, has said it would use the money it raises to invest in technology, grow its business outside of China and introduce new products.

An expanded version of this report appears on WSJ.com.

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