SoftBank-backed Dingdong slashes U.S. IPO target by over 70% [Financial Post (Toronto, Ontario, Canada)]
Missfresh Limited - American Depositary Shares (MF)
Company Research
Source: Financial Post
It is now looking to raise up to $94.4 million, according to a filing, compared with its earlier plan for up to $357 million. Puffy Lux mattress review: 30 nights of sleep testing Advertisement The company said it would be aiming to sell 3.7 million American Depositary Shares (ADSs) priced between $23.50 and $25.50 each. It had earlier said it would be looking to sell 14 million ADSs. The downsizing comes after rival grocery app Missfresh Ltd , backed by Tencent Holdings Ltd, plunged in its market debut last week. After opening 18% below the offer price of $10 per ADS on Friday, shares of Missfresh have slumped further to $8.75 per ADS in late afternoon trading on Monday, almost 33% below their IPO price. Morgan Stanley, BofA Securities and Credit Suisse are the lead underwriters for the Dingdong IPO. (Reporting by Niket Nishant in Bengaluru; Editing by Devika Syamnath) Advertisement Article content Share this article in your social network Advertisement In-de
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