According to a revised F-1 prospectus filed with the Securities and Exchange Commission on Thursday, Didi aims to list 288 million American Depository Shares, which is the equivalent of 72 million shares of Class A common stock, on the New York Stock Exchange under the ticker code DIDI.
Didi expects to list shares between $13 and $14 a share, valuing the company at more than $60 billion, according to the filing. The business expects to raise more than $4 billion in its IPO, which might be one of the largest this year, at the upper end of its projected price range.
Didi, which was founded in 2012, is one of the world’s top five privately held start-ups, with big investors including as SoftBank, Uber, and Tencent.
According to Reuters, China’s market regulator, the State Administration for Market Regulation (SAMR), is looking into whether Didi utilized unfair competitive tactics to push out smaller competitors. The investigation is the latest in a series targeting China’s so-called “platform” corporations, such as Alibaba Group and Tencent.
Last year, the corporation brought in $21.6 billion in revenue. It also turned a profit on $6.4 billion in revenue this quarter. The company’s net income for the quarter was $837 million before specific distributions to shareholders, and comprehensive net income was $95 million.
Didi was placed No. 5 on CNBC’s Disruptor 50 list this year. Xiaoju Kuaizhi is the exact name of the firm as it appears on the F-1. The IPO is being underwritten by Goldman Sachs, Morgan Stanley, and J.P. Morgan.
