Chinese Ride-Hailing Firm Didi Reveals $1.6 Billion Loss in IPO Filing BNN Bloomberg


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(Bloomberg) -- Chinese ride-hailing company Didi revealed a $1.6 billion net loss for 2020 as it moves ahead with plans for a U.S. initial public offering. The company listed its offering size as $100 million in its first public filing for the IPO Thursday, a placeholder that’s likely to change. It filed under the business name Xiaoju Kuaizhi Inc., with Goldman Sachs Group Inc., Morgan Stanley and JPMorgan Chase & Co. listed as advisers. Didi, one of the largest investments in SoftBank Group Corp.’s portfolio, has been accelerating its listing plan after its business rebounded post-pandemic. The company has been...