HONG KONG, June 17 (Reuters) – China’s largest ride-hailing firm Didi Chuxing has appointed 5 extra funding banks to work as ebook runners on its U.S preliminary public providing (IPO) value as much as $10 billion, sources with direct information of the matter mentioned.
Didi, whose IPO may very well be the biggest by a Chinese language agency in the USA in seven years, has given mandates to Financial institution of America(BAC.N) , Barclays (BARC.L), China Worldwide Capital Corp (CICC) Citigroup (C.N) and HSBC Holdings (HSBA.L) as ebook runners on the deal, the sources mentioned.
Didi not reply to a request for remark from Reuters. Financial institution of America, Barclays, CICC, Citigroup and HSBC declined to touch upon the appointment.
Reuters reported on Thursday that China’s market regulator had begun an antitrust probe into Didi, three folks with information of the matter mentioned. read more
The corporate mentioned of that difficulty that it could not touch upon “unsubstantiated hypothesis” from unnamed sources.
The syndicate growth was first reported by IFR.
The financial institution have been appointed in junior roles, which implies they are going to work alongside Goldman Sachs (GS.N), Morgan Stanley (MS.N) and JPMorgan (JPM.N) main the deal, based on the agency’s filings with the U.S. Securities and Alternate Fee (SEC).
China Renaissance (1911.HK) is listed on the submitting as a co-manager of the IPO.
Reuters beforehand reported Didi may elevate as much as $10 billion in an IPO that may worth the agency at as much as $100 billion. [nL1N2LM0V7.
At that size, it would be the largest IPO by a Chinese company in the United States since Alibaba raised $25 billion 2014.
(This story corrects spelling of company name in paragraph 1)
Reporting by Scott Murdoch in Hong Kong; Editing by Edmund Blair
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