Chinese ride-hailing service Didi Chuxing is going public on the New York Stock Exchange today and is expected to achieve a valuation of $67 billion. The company is looking to raised more than $4 billion through the IPO at a price of $14 per share.
An earlier filing shows that the company's net revenue in 2020 was $21.6 billion.
A successful Didi IPO will also please investor Softbank. The Japanese bank holds a 20 percent stake in the company and has been hoping for some better IPO outcomes. Softbank-backed WeWork saw its IPO plans go sour in 2019, but the March IPO of South Korea retailer Coupang, the one by Didi and the planned one by Indonesian online retailer Tokopedia have caused things to look up for Softbank.