RIDE-HAILING service Didi Chuxing Admir Mehmedi Switzerland Jersey , Uber Technologies Inc’s main rival in China, is working toward an initial public offering in the United States that would likely take place in 2018, a person with knowledge of the plan said yesterday.

The Apple Inc-backed firm is valued at about US$25 billion and its stock market listing would be the most high-profile by a Chinese company in the US since Alibaba Group Holding Ltd’s two years ago.

Didi has ruled out a stock market flotation in China, said the person Cheap Switzerland Soccer Hats , who declined to be identified as the discussions about a listing were private.

There are nearly 800 companies waiting to get regulatory approval for an IPO in China, making it hard to predict when a listing might happen.

A Didi spokeswoman in Beijing said the company currently has no IPO plan.

Didi Chuxing, which dominates the ride-sharing market in China, was formerly known as Didi Kuaidi and was formed last year from the merger of two companies backed separately by e-commerce giant Alibaba and social network firm Tencent Holdings Ltd.

Bloomberg News earlier reported that Didi was targeting a New York listing next year Cheap Switzerland Soccer Hoodies , but the person with knowledge of the matter said a 2017 listing would be too early.

Didi is currently seeking to raise US$3 billion in its latest funding round, which includes an investment of US$1 billion from Apple.

Indonesian police stand guard in front of the Myanmar Embassy in Jakarta as Indonesian Muslims hold a protest against the suffering of the Rohingya Muslims in Myanmar's Rakhine in Jakarta, Indonesia, Sept. 4 Cheap Switzerland Soccer Shirts , 2017. (XinhuaZulkarnain)

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Enchanting Xiamen ahead of 9th BRICS Summit

Rice in NE China enters harvest season

Salt fields enter into harvest season in China's Liaoning

Schools in China open recently after summer vacation

2017 Red Bull Air Race to be held in Portugal

In pics: papercuttings made by 103-year-old woman

China's Discovery ROV collects samples in western Pacific Ocean

World Robot Conference attracts visitors in Beijing

Elks are seen at the Dafeng National Nature Reserve for Elk in Yancheng City, east China's Jiangsu Province, Sept. 3, 2017. The nature reserve has seen its number of elks increasing from only 39 in 1986 to more than 4 Cheap Switzerland Soccer Jerseys ,100 this year. (XinhuaHan Hua)

Enchanting Xiamen ahead of 9th BRICS Summit

Rice in NE China enters harvest season

Salt fields enter into harvest season in China's Liaoning

Schools in China open recently after summer vacation

2017 Red Bull Air Race to be held in Portugal

In pics: papercuttings made by 103-year-old woman

China's Discovery ROV collects samples in western Pacific Ocean

World Robot Conference attracts visitors in Beijing

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