DiDi to Go Public in Hong Kong with a Valuation of USD 80 Bn

Automotive Author: Chao Gong Jul 20, 2020 07:00 PM (GMT+8)

DiDi is actively seeking IPO in Hong Kong with a target valuation of USD 80 billion.

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DiDi is in talks with investment banks and plans an initial public offering (IPO) in Hong Kong as soon as this year, aiming at a valuation of USD 80 billion, according to people familiar with this matter. The deal is expected to be one of the largest on the HKEX in recent years.

The source also suggested that the company's major businesses, including ride-hailing, bicycles (Qingju), and finance, have become profitable regarding its adjusted financial metrics.  

Industry analysts believe that DiDi's recent moves are signaling its intention of the upcoming IPO. The company has been putting efforts into accelerating its business and improving its operation. Its autonomous vehicle spin-off secured USD 500 million Angle Round financing from SoftBank in May, which also launched the RoboTaxi trail operation in Shanghai at the end of last month. DiDi also set an ambitious target for 2020 dubbed '0188' — to gain 100 million orders per day, to reach 800 million Monthly Average Users (MAUs) globally.