Chinese ride sharing giant Didi Global raised $4 billion in it's listing on Wall Street Tuesday, paving the way to begin trading on Wednesday.
According to sources, Didi's debut is now set to be the largest by a Chinese company since Alibaba in 2014.
They say shares will be priced at $14, near the top of its indicated range, with more than 280 million shares on offer coming in at a huge valuation of more than $70 billion dollars.
Didi did not immediately respond to a request for comment.
Reuters previously reported the company aimed for $100 billion, but the size of the deal was cut ahead of its U.S. market launch.
One analyst told Reuters investors may be worried about China’s potential anti-trust related crackdown and more generally, this year's volatile global market.
Didi was created in 2012 and successfully pushed Uber out of the Chinese market.
The U.S. company lost a price war with Didi and ended up selling its Chinese operations to Didi for a stake.