China's Didi leans towards NY over HK for IPO, eyeing valuation of $100b

China's Didi leans towards NY over HK for IPO, eyeing valuation of $100b

A woman walks past Didi Chuxing's booth at the Global Mobile Internet Conference (GMIC) 2017 in Beijing, China April 28, 2017. REUTERS/Jason Lee/Files

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.

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