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Fortune 28 June, 2021 - 03:34pm 42 views

When is Didi IPO?

When is Didi's IPO date? Didi is expected to begin trading on 30 June 2021 under the ticker 'DIDI'. You can keep track of upcoming IPOs​ that are due to debut on our platform. cmcmarkets.comDidi IPO: How to Trade on Didi's IPO

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Didi, the Uber of China, Is Set to Trade on Wednesday. What You Need to Know.

Barron's 28 June, 2021 - 10:18am

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Didi Global, the Uber of China, could deliver the second-biggest initial public offering of the year when it begins trading this week.

The Chinese ride-hailing behemoth has filed to sell 288 million American depositary shares at $13 to $14 each, a prospectus said. Four such shares represent one class A ordinary share. This means Didi could raise as much as $4 billion if it prices on the high end. 

The Beijing company plans to trade on the New York Stock Exchange under the ticker DIDI. 

Didi is scheduled to price its deal on Tuesday and trade Wednesday, a person familiar with the situation said. The company’s valuation could soar past $60 billion. 

Didi’s offering comes during another busy week for IPOs. At least 16 companies are scheduled to price this week, including Krispy Kreme. The doughnut chain is expected to begin trading on Thursday. 

At $4 billion, Didi Global would take top honors as the largest IPO in the second quarter, Dealogic said. It would also rank second in terms of size for the year. Coupang (ticker: CPNG), which collected about $4.6 billion in March, was the year’s biggest IPO, Dealogic said.

Goldman Sachs, Morgan Stanley, and J.P. Morgan are the underwriters on the Didi deal.

Morgan Stanley Investment Management and Temasek Holdings have agreed to buy $1.25 billion worth of shares, the prospectus said. Morgan Stanley (MS), one of the underwriters on the Didi IPO, is buying $750 million, while Temasek, a Singapore state-owned investment company, is looking to scoop up $500 million, the filing said. 

Didi, of Beijing, 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 15 countries, its prospectus said. It had more than 493 million annual active users as of March 31. 

Didi is known for successfully pushing Uber Technologies (UBER) out of China after the U.S. company lost a bruising price war and ended up selling its operations to Didi for a stake. Uber, which is not selling shares in the IPO, will see its percentage of voting power drop to 6.4% from 12.8% after the offering. SoftBank Group (SFTBY), one of Didi’s bigger shareholders, falls to 10.7% from 21.5%, while Tencent Holdings (TCEHY) tumbles to 3.4% from 6.8%. SoftBank and Tencent are also not selling shares.

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Didi's $4 bln IPO order books to close Monday - sources

Reuters 27 June, 2021 - 10:18pm

The people could not be identified as the information is not yet public. Didi did not respond to a request for comment.

The books will close at 5pm in each region on Monday, the people said.

Didi set a price range of $13 to $14 per American Depositary Share (ADS), a regulatory filing showed 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.

At the flagged price range, Didi would be worth $62.4 billion to $67.2 billion. read more .

(This story refiles to add dropped word in the second paragraph, clarifying Didi did not respond)

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