Chinese ride-hailing firm Didi reveals loss in IPO filing

Didi, one of the largest investments in SoftBank Group Corp.’s portfolio, accelerated its listing plans after its business rebounded as the coronavirus pandemic ebbed in China.

CHINESE ride-hailing company Didi revealed a $1.6 billion (RM6.59bil) net loss for 2020 as it moves ahead with plans for a U.S. initial public offering.

The company in its first public filing for the IPO listed the offering as $100 million, a placeholder that will change when the company discloses terms for the share sale. Didi filed Thursday under the business name Xiaoju Kuaizhi Inc., with Goldman Sachs Group Inc., Morgan Stanley and JPMorgan Chase & Co. leading the offering.