China's Didi worth US$68bil after US debut

Traders work during the IPO for Chinese ride-hailing company Didi Global Inc on the New York Stock Exchange (NYSE) floor in New York City, U.S., June 30, 2021. REUTERS

NEW YORK: Didi Global Inc shares ended their first day of U.S. trading slightly over their initial public offering (IPO) price, valuing the ride-hailing giant at US$68.49 billion in the biggest U.S. listing by a Chinese company since 2014.

The stock market debut vindicated Didi's decision to moderate its valuation expectations, after investors raised concerns over the pace and profitability of its expansion in new services and foreign markets. Reuters reported in March that Didi was hoping the IPO could value it at as much as $100 billion.