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Didi Global Prices IPO Of 317 Mln ADS At $14/Shr; Raises $4.4 Bln

Chinese ride hailing company Didi Global Inc. raised $4.4 billion in its U.S Initial public offering or IPO, Bloomberg reported citing people familiar with the matter.

The company priced the shares at the top of its indicated range and also increased the number of shares sold. The increase reportedly was after the Didi investor order book oversubscribed multiple times.

Didi sold 317 million American Depository Shares or ADS at $14 per share, compared to the planned sale of 288 million shares.

Didi is now valued at about $73 billion on a fully diluted basis, while it will be worth $67.5 billion on a non-diluted basis.

The company is expected to debut on the New York Stock Exchange on June 30.

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