DiDi Global, which operates China's largest ride-hailing network, raised $4.4 billion by offering 316.8 million ADSs at $14, the high end of the range of $13 to $14. The company offered 28.8 million more ADSs than anticipated. New investor Morgan Stanley and existing shareholder Temasek had indicated on up to $1.3 billion worth of ADSs in the offering.
The company states that is is the world's largest mobility technology platform and the go-to brand in China for shared mobility, providing a range of mobility services, including ride hailing, taxi hailing, and other forms of shared mobility. DiDi operates in nearly 4,000 cities, counties, and towns across 15 countries, serving over 493 million annual active users and powering 41 million average daily transactions for the twelve months ended March 31, 2021.
DiDi Global plans to list on the NYSE under the symbol DIDI. Goldman Sachs (Asia), Morgan Stanley, J.P. Morgan, BofA Securities, Barclays, China Renaissance, Citi, HSBC, and UBS Investment Bank acted as joint bookrunners on the deal.
