Didi’s IPO marred by China crackdown and cash burn fears ...Qatar

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Didi Global is on the cusp of pulling off one of the biggest US initial public offerings of the past decade, the culmination of five years of battling first Chinese regulators and then Covid 19. Now Beijing again threatens to spoil the party. Didi, the scrappy upstart that defeated Uber Technologies in 2016 before embarking on an ambitious international expansion, aims to raise as much as $4bn in New York. But like its one-time foe, the car-hailing giant has had to settle on going public at a far lower market value than previously targeted. It’s now seeking $67bn, barely up from its last round of funding in 2019, and far short of the most bullish expectations for $100bn – a reflection of th

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Last updated : 25 June 2021 clock 09:31 PM

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Didi’s IPO marred by China crackdown and cash burn fears ...Qatar

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