China's Uber Didi Chuxing Prices Upsized IPO At $14 Per Share; Trading Begins Today

June 30, 2021 9:16 AM | 1 min read | Make a Comment

DiDi Global Inc 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 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 shares are likely to begin trading on the NYSE today under the symbol "DIDI."
The underwriters have 30 days to purchase additional shares up to 47.52 million.
Price action: UBER shares traded higher by 0.62% at $51.07 in the premarket session on the last check Wednesday.
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