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Chinese ride-hailer Didi seeks $4bn in US IPO

Tech group scales back expectations after Beijing steps up regulatory scrutiny

HONG KONG -- Chinese ride-hailing company Didi Chuxing is seeking to raise up to $4 billion in an initial public offering in the U.S, according to its latest regulatory filing.

The IPO would be one of the biggest by a Chinese company in the U.S. since Jack Ma's Alibaba Group Holding went public in 2014. But Didi appears to have scaled back expectations as earlier reports suggested that it would seek to raise up to $10 billion.

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