Hugely popular Chinese ride-hailing platform Didi Chuxing is set to list on the stock exchange in New York as soon as July this year. That means you’ll be able to buy Didi shares through a broker that offers US-listed stock.
Beijing-headquartered Didi Chuxing is considering a multibillion-dollar IPO. Initial reports said the company was set to go live on the Hong Kong Stock Exchange, but recent news suggests the ride-hailing platform may be considering a New York premiere, says Reuters.
In further support of a potential US IPO is the debt deal Didi Chuxing recently entered into with JPMorgan Chase, Morgan Stanley and Goldman Sachs, among others. The deal will help the ride-hailing platform to raise $1.5 billion ahead of its listing, reports Bloomberg.
Didi Chuxing is among the most popular ride-hailing platforms in China, backed by the likes of Alibaba, Softbank and Tencent. The IPO is expected to launch in the first half of 2021, but no official date has been confirmed. In 2017, the company was worth $56 billion and it’s tentatively targeting a $100 billion valuation for its IPO launch.
Once Didi Chuxing goes public, you’ll need a brokerage account with access to the US stock market to invest. Consider opening a brokerage account today so you’re ready as soon as the stock hits the market.
Didi Chuxing was founded in 2012 and is headquartered in Beijing, China. It operates as a mobile transportation platform, offering a variety of services that include ride-hailing, ride-sharing, bike-sharing and more. It serves over 10 billion passengers annually across China, Japan, Australia, Russia and Latin America.
In 2016, Didi acquired Uber China, partnered with TripAdvisor and broke records by offering over 11 million private-car rides and 14 million orders in a single day.
While we’ve yet to see a public statement from the company on the matter, sources suggest Didi generated a healthy profit in Q2 2020. As more information is released ahead of its IPO, investors will have the opportunity to learn more about the company’s balance sheet.
While no guarantee of performance, here’s how some of Didi Chuxing’s competitors have fared:
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