Didi Chuxing Raises $4 Billion Through New York IPO

Subscription Deadline on the Afternoon of the 28th

[Asia Economy Reporter Yujin Cho] Major foreign media outlets reported, citing sources, that the initial public offering (IPO) size of Chinese ride-hailing company Didi Chuxing is expected to reach $4 billion (approximately 4.5 trillion KRW).

Didi Chuxing, which is set to be listed in New York, will close its public subscription for shares at 5 p.m. on the 28th (local time), one day earlier than scheduled.

According to the listing documents Didi Chuxing submitted to the U.S. Securities and Exchange Commission (SEC) on the 24th, the company set the price range for its American Depositary Shares (ADS) at $13 to $14 and announced it would sell 288 million shares in the IPO.

Foreign media have evaluated this listing as the largest on the U.S. stock market since Alibaba raised $25 billion in 2014.

Didi Chuxing's valuation was initially estimated at $100 billion during the early stages of the IPO, but due to intensified competition with peer companies and antitrust regulatory risks, the valuation dropped to between $62.4 billion and $67.2 billion within about three months.

Recently, Chinese authorities have launched antitrust investigations into Didi Chuxing, following Alibaba and Tencent.

The State Administration for Market Regulation (SAMR) of China is investigating whether Didi Chuxing unfairly pressured small competitors and whether its pricing system is transparent.

This content was produced with the assistance of AI translation services.