Chinese ride-hailing giant Didi Global Inc is aiming for a valuation of over $60 billion in its New York listing, less than initially expected due to worries about its growth prospects and the potential for tighter regulation over Chinese tech firms, sources said.
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The world's largest mobility-technology platform plans to start trading on the New York Stock Exchange (NYSE) on Wednesday after a short roadshow for investors for its keenly awaited initial public offering (IPO).
It will be the biggest US share sale by a Chinese company since Alibaba raised $25 billion in 2014 and is likely to be the biggest U. IPO this year.
Didi set a price range of between $13 and $14 per American Depositary Share (ADS), according to a regulatory filing on Thursday, and said it would offer 288 million such shares in the IPO. At the top of the range, the deal will raise $4.03 billion.
An overallotment option could see the company sell an extra 43.2 million shares to raise up to an extra $605 million.
