A new rideshare giant will soon hit the U.S. stock market, if its ambitious plans are realized. DiDi Chuxing, China’s largest company in the sector and therefore that country’s equivalent of Uber Technologies (NYSE: UBER) or Lyft, has filed to go public on either the Nasdaq or the New York Stock Exchange.
In the relatively early stage filing, made under the business name Xiaoju Kuaizhi, DiDi did not specify how many of its American Depositary Shares it will sell in its U.S. initial public offering, nor a price range for those securities…
DiDi describes itself as “the world’s largest mobility technology platform.” It is a market leader in the rideshare space in its native China, and is active in 14 other countries. The largest stake in DiDi — 21.5% — is owned by the Vision Fund of Japanese tech investment vehicle SoftBank. Fellow Asian tech heavyweight Tencent Holdings has a nearly 7% stake, as does Uber (13.8%).