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Didi Gains 1% After Second-Biggest U.S. IPO by Chinese Firm

Gains slip as ride-hailing firm ends day up 14 cents a share
Didi, tech peers contending with antitrust probe in China

WATCH: Chinese ride-hailing giant Didi closed its U.S. trading debut up a mere 1% after rising as much as 29%. Crystal Tse reports.(Source: Bloomberg)

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By Crystal Tse and Julia Fioretti

June 30, 2021 at 5:11 PM UTC

Updated on

July 1, 2021 at 2:22 AM UTC

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Chinese ride-hailing giant Didi Global Inc. closed its U.S. trading debut up a mere 1% after raising $4.4 billion in an initial public offering.

The company’s American depositary shares opened Wednesday at $16.65, rising as much as 29% from the $14 offer price. The shares closed at 14 cents above that price, though, giving Didi a market value of about $68 billion. Accounting for stock options and restricted stock units, the company’s diluted value exceeds $71 billion.