The freight business of Didi Chuxing, China’s most popular ride-hailing app, may tap investors for additional capital after its debut fundraising drew about $3bn in bids, highlighting strong demand for exposure to the sector.
Didi Freight initially planned to sell up to $400m of equity in December, according to people directly familiar with the situation, but is now considering raising further funds after investors lodged bids for the round worth seven times that amount.
The additional fundraising could be carried out this month, the people said, adding that the plans were not yet finalised. The funds would be used to significantly expand Didi Freight’s presence across big cities in China.
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