(Reuters) China’s ride-hailing company Didi Global Inc. has generated $4.4 billion after an initial public offering at the top of the range in the US.
Didi reportedly sold about 317 million American depositary shares, around 10% more than planned.
Didi’s shares were sold at $14, but had been marketed at $13 to $14.
The IPO happens amid growing scrutiny of Chinese tech firms by Beijing.
Didi plans to use the funds from the IPO to expand in international markets, introduce new products, and strengthen its technological base.
The ride-hailing giant would be valued at more than $67 billion after the IPO.
At $4.4 billion, Didi ranks as the second largest filing by a Chinese company in the US, second to Alibaba’s $25 billion IPO in 2014.
