RIDE-HAILING service Didi Chuxing Cheap Devan Dubnyk Hat , Uber Technologies Inc’s main rival in China, is working toward an initial public offering in the United States that would likely take place in 2018, a person with knowledge of the plan said yesterday.
The Apple Inc-backed firm is valued at about US$25 billion and its stock market listing would be the most high-profile by a Chinese company in the US since Alibaba Group Holding Ltd’s two years ago.
Didi has ruled out a stock market flotation in China, said the person, who declined to be identified as the discussions about a listing were private.
There are nearly 800 companies waiting to get regulatory approval for an IPO in China Cheap Kyle Quincey Hat , making it hard to predict when a listing might happen.
A Didi spokeswoman in Beijing said the company currently has no IPO plan.
Didi Chuxing, which dominates the ride-sharing market in China, was formerly known as Didi Kuaidi and was formed last year from the merger of two companies backed separately by e-commerce giant Alibaba and social network firm Tencent Holdings Ltd.
Bloomberg News earlier reported that Didi was targeting a New York listing next year, but the person with knowledge of the matter said a 2017 listing would be too early.
Didi is currently seeking to raise US$3 billion in its latest funding round, which includes an investment of US$1 billion from Apple.
MACAO Cheap Daniel Winnik Hat , July 13 (Xinhua) -- Aviation authorities of the Chinese mainland, China's Macao Special Administrative Region (SAR) and China's Hong Kong SAR signed a memorandum of understanding (MoU) here on Thursday to boost the capacity to ensure joint management of air traffic, said the Civil Aviation Authority of Macao SAR (AACM).
The Air Traffic Management Bureau of the Civil Aviation Administration of China, the Civil Aviation Department of Hong Kong SAR and AACM held the second steering committee meeting of air traffic management between the three sides here on Thursday.
The three sides updated the status of air traffic management in the Pearl River Delta Region to each other.
They agreed to establish the routine coordination mechanism for managing the volume of air traffic, the contingency plan for coordinating with each other Cheap Matt Dumba Hat , as well as to enhance the automation procedures to satisfy the flight clearance need of the Hong Kong and Macao airports.
In addition, the three sides also agreed to set up a shared database to support their research studies and planning work with the simulation of the air space operations in the Guangdong-Hong Kong-Macao Greater Bay Area.
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