Dada Group goes IPO on Nasdaq

On June 5, 2020, the trading of the American Depositary Shares (“ADSs”) of Dada Nexus Limited (“Dada Group”) commenced on the Nasdaq Stock Exchange (stock code: DADA). Dada Group offered 20,000,000 ADSs (before the exercising of the over-allotment option) at the initial public offering price of US$16 per ADS and raised approximately US$320 million in gross proceeds (“Offering”).

On June 5, 2020, the trading of the American Depositary Shares (“ADSs”) of Dada Nexus Limited (“Dada Group”) commenced on the Nasdaq Stock Exchange (stock code: DADA). Dada Group offered 20,000,000 ADSs (before the exercising of the over-allotment option) at the initial public offering price of US$16 per ADS and raised approximately US$320 million in gross proceeds (“Offering”).

Dada Group operates JD-Daojia and Dada Now platforms. According to the iResearch Report, JD-Daojia is one of China’s largest local on-demand retail platforms by GMV in 2019, and Dada Now is a leading local on-demand delivery platform in China by number of orders in 2019.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/06/dada-group-goes-ipo-on-nasdaq/.

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