Didi Chuxing Technology, the Chinese ride-hailing company backed by SoftBank, is reportedly planning to go public as early as next quarter, taking advantage of its upbeat post-pandemic results.
Didi, which recently reported daily rides were at a record high (seems like China has things under control coronavirus-wise at the minute), is now aiming for a valuation above $62b. Hong Kong could be one of the potential IPO destinations for Didi, but the preferred stock market is still up for debate.
The ride-hailing giant’s ultimate goal is to expand into e-commerce and tap the European markets, where it will have to compete against names like Uber and Bolt. A stock market debut will allow it to fund these ambitions, as well as start investing in electric vehicles and autonomous driving — which is where all the PR is at these days.