Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

China's Didi adds banks to work on mega U.S IPO, sources say

06/17/2021 | 08:13am EDT
FILE PHOTO: Didi headquarters in Beijing

HONG KONG, June 17 (Reuters) - China's biggest ride-hailing company Didi Chuxing has appointed five more investment banks to work as book runners on its U.S initial public offering (IPO) worth up to $10 billion, sources with direct knowledge of the matter said.

Didi, whose IPO could be the largest by a Chinese firm in the United States in seven years, has given mandates to Bank of America , Barclays, China International Capital Corp (CICC) Citigroup and HSBC Holdings as book runners on the deal, the sources said.

Didi not respond to a request for comment from Reuters. Bank of America, Barclays, CICC, Citigroup and HSBC declined to comment on the appointment.

Reuters reported on Thursday that China's market regulator had begun an antitrust probe into Didi, three people with knowledge of the matter said.

The company said of that issue that it would not comment on "unsubstantiated speculation" from unnamed sources.

The syndicate expansion was first reported by IFR.

The bank have been appointed in junior roles, which means they will work alongside Goldman Sachs, Morgan Stanley and JPMorgan leading the deal, according to the firm's filings with the U.S. Securities and Exchange Commission (SEC).

China Renaissance is listed on the filing as a co-manager of the IPO.

Reuters previously reported Didi could raise up to $10 billion in an IPO that would value the firm at up to $100 billion. [nL1N2LM0V7.

At that size, it would be the largest IPO by a Chinese company in the United States since Alibaba raised $25 billion 2014.

(Reporting by Scott Murdoch in Hong Kong; Editing by Edmund Blair)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED 0.78% 197.54 Delayed Quote.-15.12%
BARCLAYS PLC -0.51% 175.32 Delayed Quote.20.14%
CHINA INTERNATIONAL CAPITAL CORPORATION LIMITED 5.58% 18.16 End-of-day quote.-13.52%
CHINA RENAISSANCE HOLDINGS LIMITED 9.88% 18.68 End-of-day quote.17.78%
CITIGROUP INC. 1.04% 68.81 Delayed Quote.11.60%
DIDI GLOBAL INC. 11.16% 9.86 Delayed Quote.0.00%
HSBC HOLDINGS PLC -1.43% 395.2 Delayed Quote.5.85%
JPMORGAN CHASE & CO. 0.86% 153 Delayed Quote.20.41%
THE GOLDMAN SACHS GROUP, INC. 0.89% 377.55 Delayed Quote.43.17%
Latest news "Economy & Forex"
07:06aP&G beats quarterly sales estimates, warns of cost pressures
RE
07:05aWorld stocks head for sixth month of gains, dlr near 1-mth low
RE
07:05aSimpleNexus Founder Matt Hansen selected as finalist for EY Entrepreneur Of The Year Utah Region
SE
07:03aMichael Kors, Versace parent Capri raises annual revenue forecast on luxury rebound
RE
07:03aCaterpillar earnings soar as global recovery boosts equipment demand
RE
07:00aLazard second-quarter profit rises 94%
RE
06:58aMonzo discloses money laundering probe, losses increase
RE
06:56aOnline retailer Boohoo to move to new auditing model for suppliers
RE
06:52aChevron tops profit estimates, joins share buyback stampede
RE
06:50aRestaurant Brands revenue beats estimates on Burger King sales boost
RE
Latest news "Economy & Forex"