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(Reuters) - Chinese ride hailing company Didi Global Inc raised $4.4 billion in its U.S. IPO, pricing it at the top of its indicated range and increasing the number of shares sold, the company said.
Didi sold 316.8 million American Depository Shares (ADS), versus the planned 288 million, at $14 apiece.
This would give Didi a valuation of about $73 billion on a fully diluted basis and $67.5 billion on a non-diluted basis.
The decision to increase the deal size came after the Didi investor order book was oversubscribed multiple times, a source told Reuters. The company is expected to debut on the New York Stock Exchange on June 30.
China s Didi raises $4.4 billion in upsized U.S. IPO - sources
By Echo Wang, Anirban Sen and Scott Murdoch
Reuters
(Reuters) - Chinese ride hailing company Didi Global Inc raised $4.4 billion in its U.S IPO on Tuesday, pricing it at the top of its indicated range and increasing the number of shares sold, according to two sources familiar with the matter.
Didi sold 317 million American Depository Shares (ADS), versus the planned 288 million, at $14 apiece, the people said on condition of anonymity ahead of an official announcement.
This would give Didi a valuation of about $73 billion on a fully diluted basis. On a non-diluted basis, it will be worth $67.5 billion. The company is expected to debut on the New York Stock Exchange on June 30.
By Echo Wang, Anirban Sen and Scott Murdoch (Reuters) - Chinese ride hailing company Didi Global Inc raised $4.4 billion in its U.S IPO on Tuesday, pricing it at the top of its indicated range and increasing the number of shares sold, according to two sources familiar with the matter.
Didi sold 317 million American Depository Shares (ADS), versus the planned 288 million, at $14 apiece, the people said on condition of anonymity ahead of an official announcement. This would give Didi a valuation of about $73 billion on a fully diluted basis. On a non-diluted basis, it will be worth $67.5 billion. The company is expected to debut on the New York Stock Exchange on June 30.
China s Didi raises $4 4 billion in upsized U S IPO -sources - Netscape Money & Business netscape.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from netscape.com Daily Mail and Mail on Sunday newspapers.