Didi Chuxing mulling over Hong Kong Listing; targets $60B valuation

Didi Chuxing mulling over Hong Kong Listing; targets $60B valuation

China-based vehicle for a ride-hailing firm, Didi Chuxing, is mulling over getting listed through IPO 2021 in Hong Kong as the firm reconsiders its goal of publicly listing in New York amid the rising friction between the US and China.

The people associated with the matter said that the Beijing based organisation is targeting a multibillion-dollar IPO worth $60 billion (46.4 billion pounds) in Hong Kong expected to come during the 2021 first half. The firm has started discussing the IPO with top investment banks and is also backed by technology investment conglomerates Tencent, Softbank, and Alibaba.

Didi initially was targeting US IPO listing because of its prestige, a massive capital pool of investors, and the presence of reputable counterparts like Uber and Lyft. However, the venture is now mulling over Hong Kong IPO listing after the US-Sino relationship has deteriorated to leave firms like ByteDance in trouble.

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