Didi stock is set to take its first stock market debut on Wednesday, in what is the largest IPO made in the United States by a Chinese company since Alibaba's IPO.

Reuters and the Wall Street Journal reported that Didi had priced the shares at $ 14 apiece, which would raise around $ 4.4 billion and make it the biggest Chinese IPO in the United States since Alibaba's $ 25 billion offer in 2014.

This would allow the company to post a total valuation of more than $ 67 billion.

An IPO at a delicate time

It's important to note that Didi, who ousted Uber from mainland China five years ago, goes public on Wall Street at a delicate time. The company has indeed drawn the attention of regulators in China, where the tech sector has been historically cracked down.

More specifically, the road haulier was one of 34 companies summoned in April to a meeting with the State Administration for Market Regulation (SAMR), where managers were asked to put an end to all anti-competitive behavior and were ordered to carry out internal inspections.

This month, Reuters further reported that Didi was under investigation for competitive reasons. According to the report, which cited anonymous sources, Didi was under investigation by SAMR to find out whether she had "used competitive practices which disliked smaller rivals in an unfair manner."

Didi said at the time in a statement that she "would not comment on unsubstantiated speculations from anonymous sources."

Didi dominates his local market

Didi-app "width =" 300 "height =" 160 "src =" http://cryptonaute.fr/wp-content/uploads/2021/06/Didi-app-300x160.jpg "srcset =" "data-sizes = "" data-swift-image-lazyload = "true" data-style = "" style = "height: 160px" data-l = "" /></source></picture>Regarding the details of its activity, it should be noted that Didi is a must-have in China, with 377 million annual active users in the country.</p>
<p>Note that the company was founded in Beijing in 2012 by a former Alibaba executive, Cheng Wei.</p>
<p>Didi then quickly gained the financial backing of prestigious investors like Apple, SoftBank and Alibaba, while fending off rivals. In 2015, it acquired its main local competitor, Kuaidi Dache, before acquiring Uber's operations in China the following year.</p>
<p>Since then, Didi has grown to offer a variety of services, including carpooling, bike sharing, and taxis.</p>
<p>The company now claims to be the largest mobility platform in the world, with users in China and 15 other countries, including Brazil, Mexico and Russia, although it remains extremely dependent on its activity in China. , where it achieves more than 93% of its sales.</p>
<h2><strong>Confirmed international ambitions</strong></h2>
<p>It is in fact in order to remedy this that the company goes public today. Indeed, in the document filed with the Securities and Exchange Commission for its IPO, Didi said she plans to use a third of the money she raises to expand her presence outside of China.</p>
<p>“We aspire to be a truly global technology company,” wrote Will Wei Cheng and Jean Qing Liu, CEO and Chairman, respectively, in a letter to investors.</p>
<p>Uber, Deliveroo, Lyft and others will therefore soon have to count on the arrival of a serious new competitor in their markets …</p>
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