Didi Chuxing, China’s largest car-sharing service provider and taxi application, is reportedly planning an IPO on the New York stock market in July this year to secure $10 billion in funds.
Reuters reported on the 11th that Didi Chuxing announced its plan to list on the U.S. stock market the day before, citing sources that the IPO target is $10 billion.
The news agency also added that Didi Chuxing did not elaborate on the timing of the listing on the New York Stock Exchange, but is aiming to be listed in July.
Didi Chuxing expects its corporate value to approach $100 billion if it is successfully listed on the New York Stock Exchange, the news agency said.
If Didi Chuxing secures $10 billion through the New York Stock Exchange IPO, it will be the world’s largest IPO this year, the news agency predicted.
Didi is a company that focuses on car-sharing services that distributes the nearest affiliated taxi or private car through mobile apps, and is called the “Chinese version of Uber.”
Didi Chuxing is receiving investments from Softbank, Alibaba, Tencent and others. It also started a pilot service for robot taxis in the demonstration area of Shanghai’s Jading district in June last year, plans to operate 1 million self-driving vehicles by 2030.
The Chinese company’s sales rose slightly last year due to the outbreak of the novel coronavirus infection (Covid-19), but have been soaring this year.
Didi Chuxing said in its performance data released along with its IPO plan the previous day that its sales reached 42.2 billion yuan between January and March this year, more than doubling from 20.5 billion yuan in the same period last year.
