China's Didi Chuxing said to prepare for Hong Kong IPO

China's Didi Chuxing said to prepare for Hong Kong IPO

Photo: Didi Chuxing

Ride-sharing specialist Didi Chuxing is preparing for a Hong Kong listing, a source close to its top executives told Caixin, as the 8-year-old company, often called the Uber of China, comes under pressure from investors looking to cash out.

The latest move marks a major development for the company, whose insiders close to CEO Cheng Wei repeatedly told Caixin in the past that there was no rush toward such a listing. Those sources told Caixin the company still has plenty of cash, with such assets now more than 50 billion yuan ($7.2 billion).

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