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China's Didi prepares for IPO in US, sources say

Ride-haling giant's value expected to reach range of $70bn to $100bn

BEIJING -- Didi Chuxing, China's top ride-hailing company, is preparing an initial public offering in the U.S., Nikkei has learned. The IPO is expected to value the company at around $70 billion to $100 billion. Didi is expected to use the billions of dollars it stands to gain from the IPO to fund a global expansion.

Sources say Didi has started working with the U.S. Securities and Exchange Commission toward an IPO on the New York Stock Exchange.

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