Chinese ride-hailing giant Didi files for US IPO

Didi, China’s giant ride-hailing company, filed paperwork for an initial public offering in the United States with the Securities and Exchange Commission on Thursday.

The company, which describes itself as the world’s largest mobility platform, offers ride hailing, taxi and carpooling services in China. Didi is also investing in autonomous driving. 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 within China. It posted a profit of $837 million in the first three months of this year after full-year losses in 2018, 2019 and 2020.

Didi’s principal shareholders include Softbank’s vision fund, Uber and Tencent, according to the SEC filing.

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