Didi Chuxing, the ride hailing work services platform based in China, publicly filed its initial public offering yesterday with the US Securities and Exchange Commission.

While the firm did not reveal the size of its offering, Reuters cites sources familiar with the matter that it could raise around USD 10 billion and seek a valuation of close to USD 100 billion, which would surpass rival Uber.

At that valuation, Didi's listing would be the biggest Chinese share offering in the US since Alibaba raised $25 billion in 2014.

In its filing, Didi revealed slower full year revenue growth due to the impact of the Covid-19 pandemic.

For the full year 2020, the group showed total revenue of RMB 141.7 billion (USD 22.2 billion), down 8.4% compared to RMB 154.8 billion (USD 24.2 billion) the previous year.

For the three months ended 31 March 2021, the group posted total revenue of RMB 42.1 billion (USD 6.6 billion), an increase of 105.9% compared to the same period a year earlier.

Didi plans to list American Depositary Shares (ADSs) on either Nasdaq or the New York Stock Exchange under the symbol "DIDI", the company stated.