Ride-hailing app Didi Chuxing raised over $4 billion in one of the biggest overseas initial public offerings (IPOs) since 2014, reported the Financial Times.
Selling shares at $14 a share, Didi attained a market capitalization of over $67 billion, surpassing the $65 billion valuation in 2018 when private investors bought into the company.
Didi intends to make its debut on the New York Stock Exchange after defeating Uber in China’s major cities. However, rivals Meituan and Ele.me have Didi shut out from revenues in the delivery sector.