Skadden Steers Chinese Ride-Hailing Giant DiDi's IPO Filing

By Tom Zanki (June 10, 2021, 8:11 PM EDT) -- Chinese ride-hailing giant Didi Chuxing, also known as DiDi, filed for an initial public offering on Thursday, revving up a potentially massive IPO steered by Skadden and underwriters counsel Simpson Thacher.

Beijing-based DiDi, formally named Xiaoju Kuaizhi Inc., listed a preliminary fundraising target of $100 million, but that sum is typically a placeholder figure companies insert to calculate fees. IPO research firm and fund manager Renaissance Capital estimated in an online brief published Thursday that DiDi's offering could raise up to $10 billion.

DiDi did not say how many shares it plans to sell or at what price range, which are...

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