Tech

Didi’s share price rose on the first day, recording a market value of nearly $ 80 billion

Shares in Didi Global Inc. surged on the first day of trading after the IPO as investors swallowed shares in a Beijing-based ride-sharing company.

Diddy’s American Depositary Receipts opened Wednesday afternoon for $ 16.65. This is 19% above the $ 14 IPO price. In recent transactions, stock prices have fallen to around $ 14.70. Diddy’s market capitalization at the time of opening was approximately $ 80 billion.

This profit overturns the sluggish trend that has plagued IPOs of several other Chinese companies in recent weeks, and investors are willing to miss some risks to their high-growth promises, and It shows that Diddy and its underwriters were wise to set the price of the transaction conservatively.

Diddy raised about $ 4.4 billion in initial public offering on Tuesday $ 14 per shareAccording to Dealogic, it has been the largest IPO carrier for Chinese companies since Alibaba Group Holding Ltd. went public in 2014. Some people involved in Diddy’s deal initially highlighted the possibility of raising about $ 5 to $ 10 billion, according to people familiar with the matter, but the recent slump in China’s IPO. It shrank due to the large marketing share of IPOs listed in the United States. Now to investors.

This summer Unusually busy season In the case of a U.S.-listed IPO, bankers, lawyers and investors said in June, July and August that more money could be raised by businesses during that period. I will. So far this week, 11 companies, excluding blank checkers, have raised more than $ 7.7 billion in IPOs, according to Dealogic, the largest week of the year, measured by funding.

Didi’s share price rose on the first day, recording a market value of nearly $ 80 billion

Source link Didi’s share price rose on the first day, recording a market value of nearly $ 80 billion

Back to top button