Uber Cashes In On DiDi’s IPO ...Middle East

OILPRICE - Economy

The ride-sharing race is heating up as Chinese major ride-sharing company Didi, also known as the “Uber of China” and an actual Uber partner, debuted on the NYSE in one of the biggest China based companies listings in the United States. Didi started trading in New York at about $16.65, which is almost a 20% jump from its initial public offering price of $14 a share. Raising $4.4 billion from the stock sale, Didi’s IPO is the second biggest US share offering by a Chinese company, followed by Alibaba's in 2014. Didi dominates ride-hailing…

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