China's Didi worth US$68b after US debut | Money

Thursday, 01 Jul 2021 07:30 AM MYT
SoftBank-backed Didi's stock opened at US$16.65, significantly higher than its US$14 IPO price. — Reuters pic
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NEW YORK, July 1 ― Didi Global Inc shares ended their first day of US trading slightly over their initial public offering (IPO) price, valuing the ride-hailing giant at US$68.49 billion (RM284.4 billion) in the biggest US listing by a Chinese company since 2014.
The stock market debut vindicated Didi's decision to moderate its valuation expectations, after investors raised concerns over the pace and profitability of its expansion in new services and foreign markets. Reuters reported in March that Didi was hoping the IPO could value it at as much as US$100 billion.

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