(ATF) China's Uber equivalent Didi Chuxing plans to go public this year, and may choose Hong Kong for its listing.
The target valuation is about $60-$80 billion according to Qilu news. The ride-hailing startup is working with investment banks including Goldman Sachs and JPMorgan Chase, the report added.
Didi has not yet responded to the report. Rumours about a potential Didi listing have been circulating since October. Didi has refused to confirm the reports , saying only that it had no clear IPO plan or timetable.
The latest report comes at a sensitive time for big tech platforms like Didi, as Chinese authorities are looking under the rugs for antitrust and monopolistic practices in the sector.
Well-known tech billionaire Jack Ma is incommunicado and other tech CEOs are not wanting to appear brash or overly flamboyant in the current atmosphere.