China’s DiDi to list on New York Stock Exchange

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The company said it would offer 288 million American Depositary Shares (ADSs) in its initial public offering (IPO). Four ADSs would represent one Class A ordinary share.

Backed by Asia’s largest technology investment firms, SoftBank, Alibaba (NYSE:BABA) and Tencent, DiDi is gearing up for what is expected to be the world’s biggest IPO this year.

DiDi set a placeholder amount of $4.6 billion for the IPO. The IPO could rake in as much as $10 billion for the company when it sets terms, Reuters had reported.

Goldman Sachs (NYSE:GS) (Asia), Morgan Stanley (NYSE:MS) and J.P. Morgan are the lead underwriters for the IPO.