xi's moments
Home | Companies

Dada Group may raise $100m from US IPO

By Wang Junwei | chinadaily.com.cn | Updated: 2020-05-13 10:45

A Dada delivery worker shows Dada's app on a mobile phone. [Photo/ imdada.cn]

Dada Group, a Shanghai-headquartered on-demand delivery and retail company, filed on Tuesday with the US Securities and Exchange Commission to raise up to $100 million in an initial public offering. It plans to list on the Nasdaq under the symbol DADA.

Dada Group operates JD-Daojia ("JDDJ"), one of China's largest local on-demand retail platforms by gross merchandise volume in 2019, and Dada Now, a leading local on-demand delivery platform in China by number of orders in 2019, according to market consultancy iResearch, the company said in the prospectus.

Chinese e-commerce giant JD.com held 51.4 percent shares of the company as its largest shareholder.

Goldman Sachs, BofA Securities and Jefferies are the joint bookrunners on the deal.

Global Edition
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349