TapTechNews June 26th news, the hitchhiking platform giant Dida Chuxing submitted the main board listing application to the Hong Kong Stock Exchange again this March. China International Capital Corporation, Haitong International, and Nomura International are its joint sponsors.
According to Reuters today, two people with direct knowledge disclosed that Dida Chuxing has set the price of its shares at $0.8 (TapTechNews note: currently about 6 RMB) and will raise $30 million (currently about 218 million RMB) in the initial public offering in Hong Kong.
Regulatory filings show that Dida Chuxing plans to globally offer 39.091 million offered shares, including 3.9095 million shares for public offering in Hong Kong and 35.1815 million offered shares for international offering, and there is also a 15% overallotment option. According to the leaked news, the final price is in the middle of the price range of $0.71 to $0.98 set when the transaction was initiated. Calculated according to the final price, Dida Chuxing's valuation is about $1.1 billion (currently about 7.7 billion RMB).
Dida Chuxing provides taxi and carpooling services and stated in its prospectus that it has about a 31% share in the Chinese mainland market.
TapTechNews noticed that this is another application after Dida Chuxing's four previous submissions failed successively on October 8, 2020, April 13, 2021, February 20, 2023, and August 30, 2023. It took nearly 4 years for the 5 submissions, and Dida Chuxing has passed the listing hearing of the Hong Kong Stock Exchange this month.