Why a Billion Dollar IPO in New York Is Risky

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IPOs are the temporary culmination of rapid growth in recent years. This should be the biggest IPO in the US since Alibaba in 2014.

(Photo: Bloomberg)

peking At first glance, Cheng Wei doesn’t necessarily look like someone whose company has made it a quasi-monopoly in driving services in the world’s second-largest economy. The main founder of Didi Chuxing, also known as the Chinese Uber, appears reserved, serious, almost childish.

But Cheng is one of the most successful Chinese entrepreneurs – and now wants to take the crown of his success. In the coming months — possibly as early as July — the 38-year-old plans to list his company on the New York Stock Exchange.

In any case, the documents have been submitted. From Friday it became clear how big the IPO would be: the volume is about $4 billion. The IPO is likely to be the largest in the US since the listing of Chinese e-commerce giant Alibaba in 2014.

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About the Author: Forrest Morton

Organizer. Zombie aficionado. Wannabe reader. Passionate writer. Twitter lover. Music scholar. Web expert.

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