WASHINGTON—Chinese companies are going public on U.S. stock exchanges at a record pace this year. China’s ride-hailing giant Didi Chuxing is the latest firm that’s poised to go public in New York, rebuffing an increased crackdown on U.S.-listed Chinese companies. Didi on June 10 filed a prospectus for its initial public offering (IPO), with a plan to list its shares on either the New York Stock Exchange or Nasdaq. Dubbed “the Uber of China,” the company commands the largest market share in the country. It has a long list of prominent backers such as Tencent, Alibaba, Japan’s SoftBank, Toyota, and Uber. Didi plans to go public as early as next month in what could be one of the largest IPOs this year, scoring a valuation of $70 billion to $100 billion, according to estimates. Following Didi’s announcement last week, Sen. Marco Rubio (R-Fla.), an outspoken China critic, issued a statement urging the …
Chinese Ride-Hail Firm Didi Expected to Raise Billions In US Listing Amid Increased Scrutiny
June 14, 2021
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