When is Didi going public?
The ride-hailing giant goes public on June 30 on the NYSE, raising $4 billion. InvestopediaDiDi Global (DIDI) IPO: What You Need To Know
Is Didi a good stock to buy?
In a research note, Xiao said Didi has a secure position, dominating the Chinese ride-sharing market, with a share of more than 80%, multiple years of growth, and “best-in-class margins.” The continuing recovery from the Covid-19 pandemic should benefit the company in the near term, she said. barrons.comBuy Didi Global Stock, Analyst Says. It Began Trading Today.
When is Krispy Kreme IPO?
Krispy Kreme Inc. (DNUT) is expected to go public for the second time on July 1, 2021. ForbesDough-Not Buy Krispy Kreme’s Overpriced IPO
This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com.
Didi Global, the Uber of China, delivered one of the year’s biggest IPOs, raising $4.4 billion.
On Wednesday, shares of Didi (ticker: DIDI) opened at $16.65, reached a high of $18.01 and then dropped. The stock tumbled to a low of $14.10, a dime above its IPO price. This means Didi traded close to its $14 offer price and was in danger of being considered a broken deal if it drops further. In late afternoon trading, the stock rebounded and recently changed hands at $14.69, up nearly 5% from its offer price.
The muted performance came during a busy day for IPOs. Didi was one of 10 companies that opened for trading on Wednesday.
The Chinese ride-hailing behemoth said it sold 316.8 million American depositary shares at $14, the top of its $13-to-$14 price range. Four such shares represent one class A ordinary share. The company announced on Wednesday morning that it had increased the size of the deal; it had planned on offering 288 million shares.
At $14.69 a share, Didi’s valuation stood at $76.4 billion on a fully diluted basis.
SentinelOne (S), the AI-powered cybersecurity platform, also began trading Wednesday. The stock kicked off at $46 and hit a high of $46.50. It recently traded at $42.10, up 20% from the offer price.
On Tuesday, SentinelOne collected $1.2 billion after selling 35 million shares at $35 each, above its expected price range. SentinelOne had filed to offer 32 million shares at $26 to $29 each, which it boosted to $31 to $32 a share on Monday.
Goldman Sachs, Morgan Stanley, and J.P. Morgan are the underwriters on the Didi offering.
Didi provides a smartphone app that lets users connect with vehicles and taxis for hire. Founded in 2012, it operates in nearly 4,000 cities, counties, and towns across 16 countries, its prospectus said. It had more than 493 million annual active users as of March 31.
Write to firstname.lastname@example.org
Didi Global, the Uber of China, delivered one of the year’s biggest IPOs, raising $4.
An error has occurred, please try again later.
This article has been sent to
Copyright ©2021 Dow Jones & Company, Inc. All Rights Reserved
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.
Read full article at Barron's
30 June, 2021 - 04:54pm
© 2021 Insider Inc. and finanzen.net GmbH (Imprint). All rights reserved.
30 June, 2021 - 03:06pm
The opening price represented a jump of 19% from Didi Global's IPO price of $14 per American depository share on Tuesday. The company said it sold 316.8 million shares to raise $4.4 billion, in the largest initial public offerings of a Chinese company in the U.S. since Alibaba's (BABA) $25 billion listing in 2014.
Didi, founded in 2012, has grown to be the largest ride-hailing player in China. It has received backing from Softbank and Tencent, and Uber (UBER) sold its Chinese business to the company in 2016 and retains a 12.8% stake in the firm. Didi was founded and is led by Alibaba veteran Will Cheng, who most recently worked as vice president of the e-commerce behemoth's Alipay payments platform.
While based in China, Didi also operates across 15 countries and in a total of about 4,000 cities, counties and towns.
"We believe China is the best starting place for realizing our vision for mobility. China's massive and urbanizing population presents opportunities for new mobility services," Didi said in its prospectus. It cited data from China Insights Industry Consultancy Limited saying it anticipates China's mobility market to reach $3.9 trillion by 2040. "This will accelerate the rapid development of shared mobility and transform urban living."
Didi has seen some choppiness in results over the past several years, with the pandemic weighing on what had been an upward trend in growth. Revenues were 141.7 billion yuan, or $21.6 billion, in 2020, compared to 154.8 billion yuan, or nearly $24 billion, in 2019. Net losses widened to 10.6 billion yuan, or $1.6 billion, in 2020 from 9.7 billion yuan, or about $1.5 billion, in 2019. However, this was narrower than the loss of 15 billion yuan, or about $2.3 billion, posted in 2018.
Average daily transactions were 41 million in the 12 months ended in March 2021, and a total of 493 million annual active users were on the technology platform over that period.
"Overall, we believe [the] pandemic headwind has been a bit milder for Didi as compared to Uber and Lyft’s ride-sharing business," Rohit Kulkarni, MKM Partners managing director, wrote in a note on Tuesday. "During 1Q ’20 and 2Q ’20, mobility bookings declined -42% and -15% on a y/y [year-over-year] basis, respectively, and have consistently increased on a y/y basis since then, unlike Uber and Lyft."
Still, the company faces some regulatory concerns both in the U.S. and in China. Didi acknowledged meeting with China’s market regulators and other major Chinese. internet companies over antitrust concerns, and the firm wrote in its prospectus that, “We cannot assure you that the regulatory authorities will be satisfied with our self-inspection results or that we will not be subject to any penalty.” And domestically, the U.S. Senate recently passed a bill to crackdown further to delist U.S.-listed Chinese companies that decline to be audited to ensure they meet accounting standards.
“It’s important when we look at Q1 2021 earnings for the [major Chinese internet] companies, they’re tremendously strong. So despite these regulations, the companies are still doing well, they’re very, very critical parts of the domestic consumption story,” Brendan Ahern, KraneShares ETFs chief investment officer, told Yahoo Finance Live on Wednesday. “On the U.S. regulation … delisting would take many, many years to come and I think you’re seeing Chinese companies like Didi coming to the New York Stock Exchange because they don’t believe the delisting will ever happen.”
The technology platform enters the U.S. public market at the start of a hot summer for new listings. Companies from direct-to-consumer eye care company Warby Parker to salad chain Sweetgreen have announced their intentions to conduct initial public offerings. The companies are banking on an ongoing strong market backdrop for their debuts, with the S&P 500 up 14% for the year-to-date and hovering at all-time highs, and investors' appetite for growth stocks increasing as the economic recovery rolls on.
The Renaissance IPO ETF, which includes a basket of recently public companies, has risen only 3.8% for 2021 so far, however, compared to its 107% rise in 2020.
Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck
A year from now, there could be deflation--not inflation--in goods and services disrupted by the Covid pandemic.
China's Didi Global Inc shares soared nearly 19% in their New York Stock Exchange debut on Wednesday, valuing the ride-hailing giant at $80 billion in the biggest U.S. listing by a Chinese company since 2014. SoftBank-backed Didi's stock opened at $16.65, compared with the initial public offering price of $14 per share. It had priced an upsized offering of 316.8 million American Depositary Shares at the upper end of its $13 to $14 range, raising $4.4 billion.
The Beijing company has raised $4.4 billion in the offering and jumps to an $87.5 billion valuation.
At $14 a share, the company's valuation would exceed $67 billion, and on a fully diluted basis would be more than $70 billion.
Author Robert Kiyosaki joined Yahoo Finance Live to discuss why he believes a market crash is coming as well as his outlook for bitcoin and other stores of value.
Stocks were mixed Wednesday to hover close to all-time highs. Traders considered stronger-than-expected prints on private payroll gains and pending home sales and looked ahead to more economic data out at the end of this week.
Bed Bath & Beyond is proving that it remains a favorite among meme stock traders.
Didi Global Inc.'s shares rose more than 20% in their U.S. public market debut as the Chinese ride-hailing giant rode the IPO wave on Wednesday.
IBM has inked hybrid cloud deals with global telecommunication giants, Verizon and Spain’s Telefonica, as the company that created the personal computer aims to build out 5G and edge networks.
The rising inflation rates is a key worry in the economic situation right now. With prices going up, dollars don’t go as far – it’s an interaction that threatens to derail consumer spending, the engine of the US economy. Investors got some clarity in June, however, after the latest FOMC meeting. The Fed had long kept an ‘inflation target’ of 2%; with inflation running more than double that, there was much speculation that the Fed would take an aggressive stance against it. Such a stance would ne
The National Association of Realtors’ (NAR) Pending Home Sales Index, which tracks the number of homes that are under contract to be sold, rose 8% in May from the previous month.
The SentinelOne IPO offered 35 million shares at $35 each, above the estimated range of $31 to $32 and raising $1.2 billion for the cybersecurity company.
(Bloomberg) -- Chinese ride-hailing giant Didi Global Inc. rose as much as 29% in its trading debut Wednesday after raising about $4.4 billion in a U.S. initial public offering.The company’s American depositary shares opened at $16.65, after pricing at $14 each. The shares were up 19% to $16.63 at 1:08 p.m., giving Didi a market value of about $80 billion. Accounting for stock options and restricted stock units, the company’s diluted value exceeds $83 billion.Didi sold 317 million shares after m
Seventeen companies are expected to go public this week. Didi's deal is by far the biggest, raising $4.4 billion for the Chinese ride-hailing company.
In addition to a $57 million fine, Robinhood is paying almost $13 million in restitution. Here is who gets paid.
DiDi Global Inc (NYSE: DIDI), famously known as Didi Chuxing Technology Co, priced 316.8 million shares at $14 per share in its upsized initial public offering. The estimated offering proceeds are $4.4 billion. It had previously planned to sell 288 million shares, at $13 - $14 per share. China's Uber Technologies Inc (NYSE: UBER) equivalent lowered its IPO valuation target from $100 billion to the $62 billion-$67 billion range due to China's growing crackdown on domestic internet firms. The shar
30 June, 2021 - 03:06pm