June 5, 2020 / 1:32 PM / a month ago

CORRECTED-China's Dada Nexus raises $320 mln in U.S. IPO

(Corrects valuation to $3.5 billion from $13.99 billion in second paragraph)

June 5 (Reuters) - Chinese online grocery firm Dada Nexus Ltd on Friday raised $320 million in an upsized initial public offering, amid increased scrutiny of Chinese companies pursuing U.S. listings.

Dada priced its IPO of 20 million American Depository shares (ADS) at $16 each, valuing it at $3.5 billion.

The firm had earlier planned to sell 16.5 million shares at a range of $15–$17 per share. (Reporting by Abhishek Manikandan; Editing by Sriraj Kalluvila)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below