Didi Chuxing (Xiaoju Kuaizhi Inc.) Prices IPO at $13.00-$14.00 Per Share (DIDI)

Didi Chuxing (Xiaoju Kuaizhi Inc.) (DIDI) plans to raise $3.9 billion in an initial public offering on Wednesday, June 30th, IPO Scoop reports. The company will be issuing 288,000,000 shares at a price of $13.00-$14.00 per share.

In the last 12 months, Didi Chuxing (Xiaoju Kuaizhi Inc.) generated $21.6 million in revenue and had a net loss of $1.6 million.

Goldman Sachs (Asia), Morgan Stanley, J.P. Morgan and China Renaissance served as the underwriters for the IPO.

Didi Chuxing (Xiaoju Kuaizhi Inc.) provided the following description of their company for its IPO: “(Note: Didi Chuxing – or simply Didi – is known as China’s Uber. Principal stockholders include a SoftBank Vision Fund entity, with a 21.5 percent pre-IPO stake; an Uber entity, with a 12.8 percent pre-IPO stake, and Tencent Entities, with a 6.8 percent IPO stake. This is expected to be one of the largest tech IPOs of the year. The Wall Street Journal estimates that Didi’s IPO could produce a valuation exceeding $70 billion, and it sees the IPO proceeds at about $7 billion or more. The company, known formally as Xiaoju Kuaizhi, Inc., filed its prospectus with the SEC on June 10, 2021; no terms have been set. Revenue and net loss figures are in U.S. dollars for 2020, according to the prospectus. The company filed confidential IPO documents on April 9, 2021.) Our mission is to make life better by transforming mobility.  We are the world’s largest mobility technology platform. We reimagine urban living using transformative technologies to make mobility safe, affordable, convenient and sustainable. We have been strategically building four key components of our platform that work together to improve the consumer experience: shared mobility, auto solutions, electric mobility and autonomous driving. We are the go-to brand in China for shared mobility, providing consumers with a comprehensive range of safe, affordable and convenient mobility services, including ride hailing, taxi hailing, chauffeur, hitch and other forms of shared mobility. Globally, we operate in nearly 4,000 cities, counties and towns across 15 countries. Our global platform provided services to over 493 million annual active users and powered 41 million average daily transactions for the twelve months ended March 31, 2021. (Incorporated in the Cayman Islands) We envision a world where AI and big data power a shared, electric, smart, and autonomous mobility network. As urban populations grow denser, demand for convenient, affordable and efficient mobility becomes increasingly difficult to satisfy. The existing transportation paradigm must change. Many cities cannot provide the road and parking infrastructure needed to support growing private vehicle ownership. At the same time, consumption upgrades and the evolving preferences of younger generations are shifting demand to shared mobility. The new mobility paradigm is expected to significantly increase the already massive mobility market opportunity. Mobility was a US$6.7 trillion market worldwide in 2020, but shared mobility and electric vehicle penetration were respectively 2% and 1% globally. The increasing adoption of electric vehicles and the commercialization of autonomous driving will further catalyze the growth of mobility, particularly shared mobility. f We believe China is the best starting place for realizing our vision for mobility. China’s mobility market is expected to reach US$3.9 trillion by 2040, by which time the penetration of shared mobility and electric vehicles is expected to have increased to 35.9% and 50.2%, respectively, according to CIC.  “.

Didi Chuxing (Xiaoju Kuaizhi Inc.) was founded in 2012 and has 15914 employees. The company is located at No. 1 Block B, Shangdong Digital Valley No. 8 Dongbeiwang West Road Haidian District, Beijing People’s Republic of China and can be reached via phone at +86 10-8304-3181.

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