China’s Didi reveals US IPO filing, sets stage for blockbuster float

FILE PHOTO: The logo of Didi Chuxing is seen at its headquarters in Beijing, China, May 18, 2016. REUTERS/Kim Kyung-Hoon/File Photo

Didi Chuxing, China’s biggest ride-hailing firm, on Thursday made public its filing for a U.S. stock market listing, setting the stage for what is expected to be the world’s biggest initial public offering this year.

The company – backed by Asia’s largest technology investment firms, SoftBank, Alibaba and Tencent – did not reveal the size of the offering, but sources familiar with the matter had previously told Reuters that the ride-hailing giant could raise around $10 billion and seek a valuation of close to $100 billion.

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