China’s top ride-hailing firm Didi Chuxing is leaning toward picking New York over Hong Kong for its initial public offering (IPO), eyeing a valuation of at least $100 billion via the float, two people with direct knowledge of the matter told Reuters.
Didi has also discussed the option of listing via a special-purpose acquisition company (SPAC), multiple people said, referring to a blank-check firm with capital raised in a U.S. IPO that would then merge with a target. But they said the SPAC option was seen by Didi as less viable given its valuation target.
