China's Uber Didi Chuxing Prices Upsized IPO At $14 Per Share; Trading Begins Today

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  • DiDi Global Inc DIDI, famously known as Didi Chuxing Technology Co, priced 316.8 million shares at $14 per share in its upsized initial public offering.
  • The estimated offering proceeds are $4.4 billion.
  • It had previously planned to sell 288 million shares, at $13 - $14 per share.
  • China's Uber Technologies Inc UBER equivalent lowered its IPO valuation target from $100 billion to the $62 billion-$67 billion range due to China's growing crackdown on domestic internet firms.
  • The shares are likely to begin trading on the NYSE today under the symbol "DIDI."
  • The underwriters have 30 days to purchase additional shares up to 47.52 million.
  • Price action: UBER shares traded higher by 0.62% at $51.07 in the premarket session on the last check Wednesday.
  • Photo by Pexels from Pixabay
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