Didi is aiming for a $ 60 billion valuation when it goes public on the NYSE
Zhang Peng | LightRakete | Getty Images
Chinese ride-hailing giant Didi plans to list 288 million American Depository Shares, equivalent to 72 million Class A common shares, on the New York Stock Exchange under the ticker symbol DIDI, according to an updated F-1 prospectus published at. was filed with the Securities and Exchange Commission on Thursday.
The filing also revealed that Didi expects shares to trade between $ 13 and $ 14 apiece, valuing the company at more than $ 60 billion. At the higher end of the stated price range, the company expects to raise more than $ 4 billion on its IPO, which could be one of the largest this year.
Didi was founded in 2012 and is one of the five largest private start-ups in the world and includes SoftBank, Uber and Tencent among the major investors.
Last week, sources told Reuters that China’s market regulator, the State Administration for Market Regulation (SAMR), is investigating whether Didi has competitive practices that have unfairly ousted smaller competitors. The investigation is the latest in a major crackdown on China’s so-called “platform” companies, including Alibaba Group and Tencent.
The company had sales of $ 21.6 billion last year. The company also posted profits of $ 6.4 billion in sales for the past quarter. Specifically, the company reported net income of $ 837 million before certain payouts to shareholders and total income of $ 95 million for the quarter.
Didi was ranked 5th on this year’s CNBC Disruptor 50 list. The exact name of the company registered on the F-1 is Xiaoju Kuaizhi. Goldman Sachs, Morgan Stanley and JP Morgan are going public.
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