Chinese ride-hailing giant Didi files for US IPO

Chinese ride-hailing giant Didi files for US IPO

It intends to list on either the New York Stock Exchange or the Nasdaq, under the ticker DIDI. The filing did not disclose how much the company plans to raise in the IPO. Didi said it operates in 15 countries, but more than 93% of its sales come from within China. It posted a profit of $837 million in the first three months of this year after losses in 2018, 2019 and 2020. , and , but the environment has gotten a lot more volatile. Over the past couple of years, a flurry of Chinese companies that trade on Wall Street Didi's US listing is notable amid ongoing US-China tensions. A lot of major Chinese tech firms trade in New York, includingand, but the environment has gotten a lot more volatile. Over the past couple of years, a flurry of Chinese companies that trade on Wall Street have held secondary listings in Hong Kong so they can establish stronger roots closer to home, citing worsening regulatory hurdles. Didi acknowledged the risks in its prospectus, writing that there have been "heightened …
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