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Didi’s Closest China Rival Eyes New Fundraising, Potential IPO – BNN Bloomberg

September 27, 2021
Source: bnnbloomberg.ca bnnbloomberg.ca
News Snapshot:
(Bloomberg) -- The ride-hailing unit of Zhejiang Geely Holding Group Co., which raised almost $600 million earlier this month, is already in talks with investors for another funding round as it seeks to make ground on dominant market leader Didi Chuxing Inc. The next round of fundraising may be completed in the first half of 2022, Cao Cao Mobility Chief Executive Officer Gong Xin said in an interview. That comes after the company raised 3.8 billion ($588 million) from state-owned funds including Suzhou Xiangcheng Financial Holding Group and Suzhou High-Speed Rail New City Group. While Didi controls as much as...
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