DiDi Chuxing
On 2nd Dec 2021, Didi announced that it would look to delist its ADRs from NYSE and it would seek a listing on HKSE. The stock was listed on NYSE on 30th Jun 2021, when it raised US$4.4bn at a valuation of US$67.5bn.However, since listing the stock has been at the center of a regulatory crackdown. Apart from the delisting and relisting flows, it now also has US$20bn+ of stock coming up for lock-up expiry.
We have covered various aspects of the deal and regulatory developments in our earlier notes.
Links to our previous note are below:
DiDi Chuxing Pre-IPO - A principal agent problem, rumoured target valuation is a stretch,
DiDi Chuxing Pre-IPO - Peer comparison and valuation
DiDi Chuxing Pre-IPO - Bull case to reach US$100bn, index inclusion, Uber exit.
DiDi Chuxing IPO - At fair value, with partial lock-up and index inclusion pulling it either way
DiDi Chuxing IPO Trading - Upsize Will Ensures Index Inclusion, Lock-Up Remains a Wildcard
DiDi Chuxing - Double Regulatory Whammy
China ADRs - Kanzhun, Full Truck and Didi - Regulators Sending a Message
SoftBank Group is a holding company. Domestic Telecommunications business provides mobile communication services, mobile devices, broadband services to retail customers, and telecom services to corporate customers in Japan. Sprint business provides mobile communication services and fixed-line telecommunication services in the U.S. Yahoo Japan business operates Internet-based advertising and e-commerce business. Distribution business distributes mobile devices overseas, and sells software and mobile device accessories in Japan. ARM business designs microprocessor intellectual property and related technology. SoftBank Vision Fund & Delta Fund business is engaged in the investment activities.
Uber Technologies provides ride hailing services. The company develops application for road transportation, navigation, ride sharing, and payment processing solutions. The company serves customers in the United States and Canada, Latin America, Europe, Middle East, and Asia Pacific markets, excluding its discontinued China operations.
Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.