Didi picks two banks for mega IPO - sources

China's top ride-hailing firm Didi Chuxing has chosen Goldman Sachs and Morgan Stanley to lead its blockbuster IPO.

That's according to sources who told Reuters that the firm plans to file confidentially for the New York float this month.

With a potential listing as soon as July.

Didi is backed by Asian technology investment giants SoftBank, Alibaba and Tencent.

Reuters reported last month that Didi is eyeing a valuation of at least $100 billion.

At that level, it could raise about $10 billion if it sells 10% of its shares.

That would make it the biggest Chinese IPO in the United States since Alibaba's $25 billion float in 2014.

Beijing-based Didi's reported selection of the two banks shows it is moving forward apace in its listing plans

And that the U.S. capital pool remains a big draw for Chinese companies despite heightened tensions between the world's two-largest economies.

Didi, Goldman and Morgan Stanley declined to comment.

Last year, Chinese companies raised $12 billion in U.S. listings, more than triple the amount in 2019.