Chinese ride-hailing giant Didi reportedly prices IPO shares at $14

Chinese ride-hailing company Didi priced its initial public offering at the top of its range at $14, according to media reports. The company is reportedly considering selling more shares than planned to raise more than $4 billion, and giving it a market cap of at least $67 billion.

Why it matters: Didi will be the second largest U.S. IPO by a Chinese company after Alibaba, which raised about $25 billion from investors in 2014. Didi also famously acquired Uber's Chinese business after an expensive battle to win the market.