Dada Nexus Limited (DADA) to Raise $264 Million in IPO

Dada Nexus Limited (DADA) is planning to raise $264 million in an initial public offering (IPO) on Friday, June 5th, IPO Scoop reports. The company will be issuing 16,500,000 shares at a price of $15.00-$17.00 per share.

In the last twelve months, Dada Nexus Limited generated $518.5 million in revenue and had a net loss of $227.6 million. The company has a market-cap of $3.5 billion.

Goldman Sachs (Asia), BofA Securities and Jefferies acted as the underwriters for the IPO.

Dada Nexus Limited provided the following description of their company for its IPO: ”  We are a leading platform of local on-demand retail and delivery in China. We operate JD-Daojia (“JDDJ”), one of China’s largest local on-demand retail platforms by GMV in 2019, and Dada Now, a leading local on-demand delivery platform in China by number of orders in 2019, according to the iResearch Report. “.

Dada Nexus Limited was founded in 2014 and has 2149 employees. The company is located at 22/F, Oriental Fisherman’s Wharf, No.1088 Yangshupu Road, Yangpu District, Shanghai 200082, People’s Republic of China and can be reached via phone at +86 21 31657167 or on the web at http://www.imdada.cn.

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