Benzinga | Jun 30, 2021 09:16AM EDT

China's Uber Didi Chuxing Prices Upsized IPO At $14 Per Share; Trading Begins Today

* DiDi Global Inc (NYSE:DIDI), famously known as Didi Chuxing Technology Co, priced 316.8 million shares at $14 per share in its upsized initial public offering.

* The estimated offering proceeds are $4.4 billion.

* It had previously planned to sell 288 million shares, at $13 - $14 per share.

* China's Uber Technologies Inc (NYSE: UBER) equivalent lowered its IPO valuation target from $100 billion to the $62 billion-$67 billion range due to China's growing crackdown on domestic internet firms.

* The shares are likely to begin trading on the NYSE today under the symbol "DIDI."

* The underwriters have 30 days to purchase additional shares up to 47.52 million.

* Price action: UBER shares traded higher by 0.62% at $51.07 in the premarket session on the last check Wednesday.

* Photo by Pexels from Pixabay