Summary
[Didi’s listed Uber earns 12% of its shares worth US$8.1 billion]Five years ago, Uber (UBER.N) withdrew from the Chinese market and sold its Chinese business to rival Didi (DIDI.N) in exchange for the latter Of shares. Now, the U.S. ride-hailing giant is profiting from this transaction. Didi raised about $4.4 billion in a US initial public offering (IPO) on Tuesday, and the number of shares issued exceeded its original plan. The stock rose 1% on the first day of listing on the New York Stock Exchange on Wednesday, with a market value of US$67.8 billion. This brings the value of Uber’s current 12% stake to about $8.1 billion.
Uber (UBER.N) exited the Chinese market five years ago and sold its Chinese business to a competitorDidi(DIDI.N) in exchange for shares in the latter. Now, the U.S. ride-hailing giant is profiting from this transaction.DidiAbout $4.4 billion was raised in the US Initial Public Offering (IPO) on Tuesday, and the number of shares issued exceeded the original plan. The stock rose 1% on the first day of listing on the New York Stock Exchange on Wednesday, with a market value of US$67.8 billion. This brings the value of Uber’s current 12% stake to about $8.1 billion.
(Article source: US-Hong Kong Telecom)
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