HONG KONG — Chinese ride-hailing service CaoCao listed on the Hong Kong Stock Exchange on Wednesday, raising 1.85 billion Hong Kong dollars ($236 million) to help fund its efforts to take on Didi, which commands the national market.
The company, a division of privately owned Chinese automaker Geely, listed at a price 19% lower than its public offering price. The market capitalization as of Wednesday was about $2.42 billion.
