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China’s Didi mandates Goldman Sachs and Morgan Stanley for NY IPO
- Friday | 9th April, 2021
HONG KONG (Reuters) – China’s top ride-hailing firm Didi Chuxing has mandated Goldman Sachs and Morgan Stanley to lead its blockbuster IPO and plans to file confidentially for the New York float this month, two people with knowledge of the matter said. It is eyeing a valuation of at least $100 billion via the initial public offering (IPO), Reuters reported last month. At that valuation, Didi could raise about $10 billion if it sells 10% of its shares, making it the biggest Chinese IPO in the United States since Alibaba’s $25 billion float in 2014. Last year, Chinese companies raised $12 billion in US listings, more than triple the fundraising amount in 2019, according to Refinitiv data. Confidential IPO filings enable companies to keep vital operational and financial information out of competitors’ hands for a few extra months.
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