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