- DiDi Global Inc (NYSE:DIDI), famously known as Didi Chuxing Technology Co, priced 316.8 million shares at $14 per share in its upsized initial public offering.
- The estimated offering proceeds are $4.4 billion.
- It had previously planned to sell 288 million shares, at $13 – $14 per share.
- China’s Uber Technologies Inc (NYSE: UBER) equivalent lowered its IPO valuation target from $100 billion to the $62 billion-$67 billion range due to China’s growing crackdown on domestic internet firms.
- The shares are likely to begin trading on the NYSE today under the symbol “DIDI.”
- The underwriters have 30 days to purchase additional shares up to 47.52 million.
- Price action: UBER shares traded higher by 0.62% at $51.07 in the premarket session on the last check Wednesday.
- Photo by Pexels from Pixabay
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