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Chinese transport giant Didi prepares to go public in New York

New York, Jun 10 (.) .- The Chinese firm Didi, one of the largest private transport companies in the world, presented the documents for its IPO in New York on Thursday, in which it could obtain a valuation of more than $ 70 billion, by some estimates.

Didi’s, something like the Chinese equivalent of Uber, may become one of the biggest stock market premieres of the year on Wall Street, according to analysts.

The company presented its documentation to the Securities Market Commission (SEC, for its acronym in English) on Thursday, in which it accounts for revenues of $ 21.6 billion last year and $ 6.4 billion in the most recent quarter.

In those last three months, it registered profits of 837 million dollars before payments to shareholders, after having closed 2020 with losses.

Didi, which made its notification to the SEC under its formal name, Xiaoju Kuaizhi Inc., could achieve an IPO valuation of about $ 70 billion, according to sources at The Wall Street Journal (WSJ).

According to other media, that valuation could reach up to 100,000 million dollars, after having been valued at 62,000 million dollars during its last round of financing.

The WSJ notes that the company expects to raise between 8% and 10% of that valuation in its stock offering, funds that it will use to invest in technology, grow outside of China and introduce new products.

In its letter to the SEC, the company does not specify a date for its IPO, but according to some media it will begin trading during the month of July.

Founded in 2012, Didi claims to have 493 million annual active users and 15 million drivers.

(c) . Agency

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