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Chinese ride-hailing giant Didi to list 288 million ADS


According to the F-1 prospectus, filed with the Securities & Exchange Commission, a Chinese ridesharing giant Didi plans to list 288 million American Depository Shares, which is equivalent to 72 million shares of Class A common stock on the New York Stock Exchange. The listing shares are worth between $13 & $14 piece which would value the company at more than $60 billion. Didi was founded in 2012 & counts in five largest privately held start-ups in the world. SoftBank, Uber & Tencent are among its investors. China’s market regulator, the State Administration for Market Regulation (SAMR) is on an investigation whether Didi used any competitive practice that would unfairly remove the smaller rivals. The revenue earned in the last year was $21.6 billion. A profit of $6.4 billion was earned along with a net income of $837 million. The registered name of the company is Xiaoju Kuaizhi ranked no. 5 on this year’s CNBC Disruptor 50 list.

Source: CNBC

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