(Reuters) - The Shanghai Stock Exchange has approved a 10 billion yuan ($1.58 billion) shelf offering by Chinese ride-hailing firm Didi Chuxing, the company said on Monday.
The funds will be used for transport supply chain financing, allowing car leasing enterprises to procure new vehicles which will in turn expand capacity on Didi’s platform.
The initial size of the offering will be 300 million yuan.
($1 = 6.3301 Chinese yuan renminbi)
Reporting by Cate Cadell