Tech & Science Chinese Uber-Rival Didi requests IPO in USA

02:40  11 june  2021
02:40  11 june  2021 Source:   rp-online.de

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The Chinese driving service mediator Didi Chuxing prepares an IPO in the USA. The company submitted a corresponding request to the stock market supervisor SEC.

In seinem Heimatmarkt Cina setzte sich Didi in einem erbitterten Preiskampf gegen Uber durch. © How Hwee Young / EPA / DPA In his home market Cina, Didi sat down in a bitter price war.

from the documents is not yet the concrete schedule and the targeted emission proceeds. The above-rival still left open to which US Stock Exchange he strives. In question, the New York Stock Exchange and the Nasdaq. It is already clear that the shares should be listed under the Ticker "Didi".

The US Financial Sheet "Wall Street Journal" reported circling on initiate circles that Didi adopt an overall rating of more than $ 70 billion (57.5 billion euros). This is likely to become one of the biggest tech stock exchanges of the year. Didi, however, had to cope with a significant decline in revenue last year to 21.6 billion dollars, as shown in the SEC documents. Reason should have been strong business loss due to the Corona Pandemic. Previously, DIDI recorded significant growth.

Over the past three years, the company wrote to own data red numbers. In the first quarter of 2021, however, DIDI made a net profit of $ 873 million. The Chinese follow a similar business model as above. In his home market, Didi sat down in a bitter price war. The US company capitulated in 2016 and issued his China business in return for participation in DIDI. As a result, 12.8 percent of DIDI now considers, as well as the 21.5 percent largest shareholder Softbank - deserve a lot of money on the IPO.

Republican Rep accuses China of the 'worst cover-up in human history' .
Republican Texas Rep. Mike McCaul President Biden's investigation was 'long overdue' but fears it may turn up nothing because scientists have 'destroyed everything at the lab. He also called for the US to stop buying medical products from China as members of both the Democrats and Republicans called for a congressional investigation into the origins of COVID.'If we can pull these chains out of China, it will hurt them economically,' McCaul said. 'And that would be very punitive in nature.' The Senate has already adopted a measure from Republican Joni Ernst that would prohibit U.S.

usr: 1
This is interesting!