Published: 12:21, June 20, 2024
Mainland ride-share app operator Dida to raise up to $35m in HK IPO
By Reuters
People walk past Exchange Square, which houses the Hong Kong Stock Exchange, in Central, Hong Kong, Jan 5, 2024. (SHAMIM ASHRAF / CHINA DAILY)

SYDNEY - Chinese mainland ride-share app operator Dida has launched a Hong Kong initial public offering (IPO) to raise up to HK$273.7 million ($35.06 million), regulatory filings showed on Thursday.

The company is selling 39.1 million shares in a price range of HK$5 to HK$7 each, the documents showed.

Final pricing is set for June 26 and the stock is due to start trading two days later, showed a term sheet reviewed by Reuters.

The number of shares on offer represents 3.9 percent of the total shares in the company. There is a greenshoe option to sell a further 5.86 million shares.

ALSO READ: EY: Hong Kong IPO market showing signs of recovery

Dida will have a market capitalization of about $900 million after the IPO if the shares sell at the top of the price range.