Didi Chuxing, the leading name in the Chinese transport sharing market and also owner of 99 in Brazil, he added two important names to his expected IPO (Gold Initial Public Offering): Goldman Sachs and Morgan Stanley.

According to information from Reuters, which cites anonymous sources, financial organizations are scheduled to lead the investment round.

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Also according to the publication, the public offering should take place in July. The opening order must be made to the New York Stock Exchange (NYSE).

Illustration shows stock exchange sign with the initials IPO
Didi Chuxing's IPO promises to be the largest in the history of public offerings to date. Credit: Shutterstock

In March, there was already speculation in the market about this, which could be considered the largest IPO in the world, with values ​​that would exceed the range of US $ 62 billion.

At the time, the idea was to go public only at the end of 2021, due to all the developments that the coronavirus provided to the country. However, due to the good management of China in the face of the pandemic crisis, it was considered to anticipate the request for listing on the stock exchange.

The company has received previous contributions from the Softbank, Alibaba and Tencent, well-known Asian technology investment giants.

And, if the IPO is confirmed in the speculated form until now, the company can reach a market value of at least US $ 100 billion.

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Master play

Even with tension between China and the United States, Didi Chuxing's interest in listing shares on the US stock exchange shows that the US market is still strategic for Chinese companies.

The listing of the papers, in fact, was being considered to happen on the Hong Kong Stock Exchange (HKEX), due to the tensions suffered between China and the United States.

But going public on Asian soil could represent an extra barrier in terms of future business and operations within US soil - including vehicle licensing and other regulatory issues.

In contrast, the Chinese legacy is also a good bet for US investors. Last year, for example, the IPOs of companies in the Asian country accounted for $ 12 billion of listings in the United States.

That figure is almost four times the amount of $ 2,5 billion raised by the Chinese in the first nine months of 2019, according to data from the financial consultancy. Refinitiv.

Street: Reuters