The IPO price of Didi NYSE is set at $65438 +04.
A few days ago, Didi officially landed on the New York Stock Exchange with the code "Didi". This time, Didi did not hold a bell ringing ceremony. In this IPO, Didi will issue 3.65438+0.68 million ADSs at an issue price of 65.438+04 USD. According to the issue price, the market value of Didi is about 67 billion US dollars. At the same time, Didi gives underwriters the right of over-allotment, and they can buy up to 47.52 million ADSs at the price of 14 USD in the next 30 days.
It is understood that since the prospectus was submitted, Didi has oversubscribed 10 times, that is, it has obtained orders of more than 40 billion US dollars, overfulfilled the original fundraising target of 4 billion US dollars ahead of schedule, and ended the subscription ahead of schedule. Didi's previously updated prospectus shows that Didi is expected to issue 288 million ADSs. Counting the underwriters' full exercise of the over-allotment option, Didi's fundraising is expected to reach 4.64 billion US dollars.
For the purpose of the raised funds, Didi disclosed in the prospectus that it plans to use about 30% of the raised funds to expand the international market business outside China; About 30% of the raised funds are used to improve technical capabilities including * * * travel, electric vehicles and autonomous driving; About 20% is used to launch new products and expand existing product categories to continuously improve the user experience; The rest can be used for working capital requirements and potential strategic investments.
Is Didi listed in the United States?
On the evening of June 30th, Beijing time, Didi Chuxing, a mobile travel platform, was officially listed on the New York Stock Exchange.
Didi Chuxing is a one-stop travel platform, covering taxis, special cars, Didi Express, hitchhiking, driving, public transportation, freight and other businesses. It was renamed from Didi taxi on September 9, 20 15.
On February 27th, 2020, in order to meet users' demand for returning to work, Xiao Ju Rent-a-Car, a subsidiary of Xiao Ju Special Car, successively launched a "7-day free car rental service for 10,000 cars nationwide" in several major cities across the country. Users can make free reservations through Xiao Ju Car Rental App or Didi App. On August 4th, "Suzhou High-tech Zone 2020 Hurun Global Unicorn List" was released, and Didi Chuxing ranked third.
On June 1 day, 202 1 1, Didi Chuxing officially submitted an IPO prospectus to the US Securities and Exchange Commission. As of March 3 1, the revenue was 42.2 billion yuan. On June 30th, Didi was officially listed on the new york Stock Exchange with the stock code "Didi".
On July 2, 20021year, the network security review office announced that it would conduct a network security review on Didi Chuxing and stop registering new users during the review period. On July 4, the National Internet Information Office reported that according to the report, after testing and verification, the "Didi Chuxing" App had serious illegal collection and use of personal information. According to the relevant provisions of the Cyber Security Law of the People's Republic of China, the National Internet Information Office informed the App store to remove the "Didi Chuxing" app. According to the National Network Information Office, Didi Chuxing App has been removed from the shelves due to serious illegal collection and use of personal information. According to the official announcement, according to the report, after testing and verification, the "Didi Chuxing" App has serious problems in collecting and using personal information illegally. On 20021July 16, seven departments, including the National Internet Information Office, entered Didi Chuxing Technology Co., Ltd. to conduct network security review.
20211On February 3rd, Didi began to delist from the NYSE and began to prepare for listing in Hong Kong.
Software introduction:
The "Didi Chuxing" App has changed the traditional taxi mode and established a modern travel mode for users in the era of big mobile Internet. Compared with the traditional telephone taxi and roadside taxi, the birth of Didi taxi has changed the traditional taxi market structure, subverted the concept of roadside parking, and used the characteristics of mobile Internet to integrate online and offline, from the initial stage of taxi to getting off the bus, drawing an o2o closed loop closely connected with passengers and drivers, maximizing the taxi experience of passengers, changing the waiting mode of traditional taxi drivers, allowing driver masters to "take orders" according to passengers' destinations, saving drivers and passengers.
On August 5, 20 19, Didi Chuxing announced that its autopilot department had been upgraded to an independent company, focusing on autopilot research and development, product application and related business development.
Didi's listing on the NYSE raised at least $4.4 billion.
On June 30th, Didi was officially listed on the new york Stock Exchange with the stock code "Didi". Goldman Sachs, Morgan Stanley, JPMorgan Chase and Huaxing Capital acted as underwriters. Didi's IPO underwriter list also includes a number of China institutions, including CICC, BOC International, BOCOM International, CCB International, CMB International, ICBC International and Guotai Junan International.
In this IPO, the issue price of Didi is set at 14 USD, which is at the upper limit of the issue range of 13- 14 USD /ADS. Didi distributed 3170,000 ADS, more than the original plan of 288 million ADS 10%. Based on the issue price of 14 USD, Didi raised at least 4.4 billion USD this time.
Didi opened 16.65 USD immediately after the opening, which was 18.93% higher than the issue price, and its market value exceeded 79.8 billion USD, and it is still rising.
For the purpose of the raised funds, Didi disclosed in the prospectus that it plans to use about 30% of the raised funds to expand the international market business outside China; About 30% of the raised funds are used to improve technical capabilities including * * * travel, electric vehicles and autonomous driving; About 20% is used to launch new products and expand existing product categories to continuously improve the user experience; The rest can be used for working capital requirements and potential strategic investments.
According to the issue price, Didi IPO is valued at more than 67 billion US dollars. According to informed sources, the fully diluted Didi valuation may exceed $70 billion.
It is reported that since the prospectus was submitted, Didi has oversubscribed 10 times, that is, it has obtained orders of more than 40 billion US dollars, overfulfilled the original fundraising target of 4 billion US dollars ahead of schedule, and ended the subscription ahead of schedule.
Didi is listed on the New York Stock Exchange with a market value of $67 billion. What other noteworthy information is there?
Didi, the largest travel platform in China, finally landed in the capital market after 9 years. On the evening of June 30, Didi Chuxing was officially listed on the New York Stock Exchange, with an issue price of 14 USD and an overall valuation of over 67 billion USD. On the first day, it opened at 16.65 USD per share, which was nearly 19% higher than the issue price, but then it fell sharply, and closed at 14.2 USD that day, which was still 1.43% higher than the issue price. After the closing of the IPO on the first day, FTSE Russell announced that Didi would be included in FTSE Russell Global Stock Index, FTSE Russell Global Large Stock Index and FTSE Russell Emerging Markets Index, which took effect on July 8.
Didi and Uber officially met in the United States.
The data shows that the total revenue of Didi from 20 18 to 2020 is135.3 billion yuan,154.8 billion yuan and141700 million yuan respectively; Revenue in the first quarter of this year was 42.2 billion yuan. Because the tourism industry as a whole is a money-burning track, high income does not mean high profits. Didi's net loss from 2018 to 2020 is1500 million yuan, 9.7 billion yuan and 106 billion yuan respectively, with a cumulative loss of 35 billion yuan in three years; In the first quarter of this year alone, the net profit was 5.5 billion yuan, and the profit mainly came from the equity income of the split subsidiary. At present, Didi's core income source is still China's travel market, including online car rental, taxis, driving and hitchhiking, accounting for more than 94%. After the listing, Didi and Uber officially met in the United States, and the two sides still have a hard battle to fight in the global market. How to find a growth point to support their performance in the capital market is the key.
Didi is in an absolute "crushing" situation, and it is the best in the whole industry.
In other words, if most people want to use the internet to get a car, then Didi must be the first choice. This can't be avoided by someone around me doing statistics. Alas, myself, my friends and my parents don't have to drop. When an enterprise has taken control of the market without any suspense and is going public, from the point of view of ordinary shareholders, this is definitely a stock worth starting with, and the capital is bound to be optimistic. At the same time, in the past two years, Didi has also made cross-border layout for other fields, that is, the title says: Didi's income composition includes China travel business, international business and other businesses. Autopilot, the news that Didi wants to build a car should have been heard long ago.
Didi has really improved travel efficiency and solved a lot of work.
The homogenization of the network car industry is serious, the user switching cost is low, and the network effect is poor. With the continuous admission of players, market competition intensifies and the cost of obtaining customers rises. Therefore, Didi has to invest more subsidies to acquire users, resulting in a high sales expense ratio. In the field of automatic driving with heavy positions, it is necessary to continuously invest a lot of money in the early stage, which is highly uncertain and especially tests the patience of investors! In short, Didi's self-development ability needs to be strengthened, but its business layout is still forward-looking. However, from the perspective of social value, Didi has indeed improved travel efficiency and solved a lot of work.
Profitability is still difficult.
Today, Didi has occupied more than 80% of the market share in China, but it is still difficult to make a profit. In the past three years, Didi's revenue was 65.438+0353 billion yuan, 65.438+0548 billion yuan and 65.438+041700 million yuan respectively, of which 95% came from its travel business in China, but its profits were-274 million yuan, 3.844 billion yuan and 3.96 billion yuan respectively. Previously, Didi had expected to rely on Uber to hit the market value of hundreds of billions of dollars. In recent years, we have gradually expanded businesses such as self-driving, freight forwarding and community group buying to improve the valuation space, but before listing, these businesses have been split into independent financing. For example, since April this year, Didi has excluded its most imaginative community group buying business from the main body of listing.
Didi financing process and valuation
Didi is the fastest or this year's IPO valuation is at least 70-80 billion US dollars. According to a person familiar with the matter, the Didi plan is the fastest IPO this year, with a valuation of up to 80 billion US dollars. Didi is currently negotiating with bankers for a multi-billion dollar initial public offering, which may be listed as soon as this year. The representative of Didi has not commented yet.
Introduction to Didi:
1. Didi Chuxing is a one-stop travel platform, covering taxi, special car, Didi Express, hitchhiking, driving, public transportation, freight and other services. It was renamed from "Didi Taxi" on September 9, 20 15. On February 27th, 2020, in order to meet users' demand for returning to work, Xiao Ju Rent-a-Car, a subsidiary of Xiao Ju Special Car, successively launched a "7-day free car rental service for 10,000 cars nationwide" in several major cities across the country. Users can make free reservations through Xiao Ju Car Rental App or Didi App. On August 4th, "Suzhou High-tech Zone 2020 Hurun Global Unicorn List" was released, and Didi Chuxing ranked third.
On February 20021June 1 1 day, Didi Chuxing officially submitted an IPO prospectus to the US Securities and Exchange Commission. As of March 20021year, the revenue was 42.2 billion yuan. On June 30th, Didi was officially listed on the new york Stock Exchange with the stock code "Didi".
3.2021July 2, the network security review office announced that it would conduct a network security review on Didi Chuxing and stop registering new users during the review period. On July 4, the National Internet Information Office reported that according to the report, after testing and verification, the "Didi Chuxing" App had serious illegal collection and use of personal information. According to the relevant provisions of the Cyber Security Law of the People's Republic of China, the National Internet Information Office informed the App store to remove the "Didi Chuxing" app. According to the National Network Information Office, Didi Chuxing App has been removed from the shelves due to serious illegal collection and use of personal information. According to the official announcement, according to the report, after testing and verification, the "Didi Chuxing" App has serious problems in collecting and using personal information illegally. On 20021July 16, seven departments, including the National Internet Information Office, entered Didi Chuxing Technology Co., Ltd. to conduct network security review.
4.202165438+On February 3rd, Didi began to delist from NYSE and started the preparation for listing in Hong Kong.