China’s top ride-hailing firm Didi Chuxing has mandated Goldman Sachs and Morgan Stanley to lead its blockbuster IPO and plans to file confidentially for the New York float this month, two Reuters sources with knowledge of the matter said.
Didi, backed by Asian technology investment giants SoftBank, Alibaba and Tencent, is looking to list as soon as July, according to the sources.
It is eyeing a valuation of at least $100 billion via the initial public offering (IPO), Reuters reported last month. At that valuation, Didi could raise about $10 billion if it sells 10% of its shares, making it the biggest Chinese IPO in the United States since Alibaba’s $25 billion float in 2014.
Beijing-based Didi’s selection of the two banks shows it is moving forward apace in its listing plans and that the US capital pool remains a big draw for Chinese companies, reported Reuters.