Chinese Taxi App Didi Continues Plans for IPO in New York

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Chinese taxi app Didi Chuxing is pushing ahead with plans for an IPO in New York. It could be the biggest IPO of the year. Didi is the largest player in the taxi market in China.

 

The company is also mainly active in Latin America and is said to have plans to come to Europe.

The company announced that it had posted a loss of $1.6 billion in 2020. With the corona pandemic in China under control, Didi was able to recover and therefore accelerated his plans for an IPO.

Didi talks about a company valuation of 100 billion dollars in stock exchange documents, an amount that could change once the exact details of the share placement are known.

The Chinese variant of the American Uber Technologies officially applied on Thursday. The IPO will be supervised by investment banks Goldman Sachs, Morgan Stanley and JPMorgan Chase.

An important investor in the taxi service is the Japanese SoftBank. The company is also reportedly looking at listing in Hong Kong at a later date.

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