China’s ride-hailer giant Didi Global Inc has raised $4.4 billion after it sold nearly 316.8 million American Depository Shares (ADS) on its Wall Street debut. Didi priced its shares at $14 each in its upsized New York initial public offering on Wednesday. It had planned to sell 288 million ADS, Reuters reports. 

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Didi posted the biggest Chinese IPO in the United States since Alibaba’s $25 billion offerings in 2014, Dealogic reports. 

The impressive debut of the rising hailing company takes its valuation to more than $67 billion, The Wall Street Journal reports. Only Uber Technologies Inc.’s roughly $95 billion is higher in the sector. Didi, however, has not made any official statement yet.

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Didi had launched its roadshow last week, for a short investor pitch. Only three business days later, it announced its price. 

Five years ago, Didi bought out Uber’s business in mainland China. In April, the ride-hailer was summoned for a meeting with the State Administration for Market Regulation (SAMR) and asked to end any anti-competitive behaviour, CNN reports. 

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Didi has 377 million annual active users in China alone, CNN reported. It was founded in 2012 by Alibaba manager Cheng Wei in Beijing. The company, in 2015,  acquired its top local competitor, Kuaidi Dache. The very next year it forced out Uber from China. Uber has a stake of about 12% in Didi. According to CNN, Didi bills itself as the world’s largest mobility platform. It has a presence in 15 other countries but more than 93% of its sales come from China.