Didi Chuxing's CEO Will Cheng speaks at a launch event for D1 electric van by Didi and electric vehicle maker BYD, in Beijing, China November 16, 2020.
WASHINGTON, June 25 (Reuters Breakingviews) - China’s ride-hailing behemoth is driving slow ahead of its initial public offering.
Didi Global, led by boss Will Wei Cheng, is targeting a market capitalisation of up to $67 billion, based on a price range of $13 to $14 per share, just two-thirds of the earlier mooted goal read more .
At the top end, Didi’s enterprise is valued at a multiple of 12 times last year’s “Platform Sales”, a comparable metric to revenue reported by Uber (UBER.N) which trades on 9 times.
Regulatory roadblocks could weigh on growth: Officials launched an antitrust probe over competitive practices, and Didi has been ordered to share more information with drivers.
Didi Chuxing's, Will Cheng, Didi, Didi Global, Will Wei Cheng, Uber, It’s, Sharon Lam, Xpeng, Una Galani
Beijing, China, WASHINGTON