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Didi’s share price soared on day one, recording a market value of $ 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. 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.

According to Dealogic, Diddy raised about $ 4.4 billion after initial public offering on Tuesday at $ 14 per share, a Chinese company since Alibaba Group Holding Limited went public in 2014. Achieved the largest IPO for. 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.

Write to Corrie Driebusch at corrie.driebusch@wsj.com

Didi’s share price soared on day one, recording a market value of $ 80 billion

Source link Didi’s share price soared on day one, recording a market value of $ 80 billion

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