Chinese ride hailing giant Didi Global is pricing shares in its U.S initial public offering (IPO) in a range of $13 U.S. to $14 U.S.
The pricing is at the top end of the range expected by analysts. Didi is selling 288 million American Depository Shares (ADS) and the IPO is expected to raise $4.03 billion U.S., which would value Didi at $67.2 billion U.S.
The final price of the shares is due to be set after U.S markets close today (June 29). The IPO was covered early on the first day of the bookbuild last week and the investor books were closed on Monday (June 28), one day ahead of schedule.
An over-allotment option exists where a further 43.2 million shares can be sold to increase the size of the IPO. Didi shares are due to start trading in New York on Wednesday (June 30).
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