Tencent-backed Missfresh eyes $3.8 billion valuation in U.S. IPO

Reuters2021-06-22

(Reuters) - Chinese online grocery startup Missfresh Ltd is planning to raise as much as $336 million from its U.S. initial public offering, which is expected to value the company at up to $3.8 billion at the top end of the range.

Missfresh, which is backed by an affiliate of Chinese gaming and social media giant Tencent Holdings Ltd, is offering 21 million American Depositary Shares (ADSs) at a price range of between $13 and $16 each.

Founded in 2014, Missfresh is a mobile e-commerce platform that offers delivery services of fresh produce, including fruits, vegetables, dairy products, meat, beverages and drinks, and other daily dining and living items.

The COVID-19 pandemic has fueled online demand for fresh produce in China, with e-commerce companies including Dingdong Macai, Alibaba Group and Pinduoduo competing aggressively to grab a major slice of that vast market.

Earlier this month, Dingdong also filed to list in the United States.

Missfresh also counts Abu Dhabi Capital Group and Tiger Global Management among its backers.

J.P. Morgan, Citigroup, CICC and China Renaissance are the lead underwriters for the offering.

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Comments

从前有一个股神
2021-06-25
从前有一个股神
Nightly
bzlim
2021-06-23
bzlim
Long Tencent?
RS142
2021-06-23
RS142
?
Roychai
2021-06-23
Roychai
Good
weiyan9
2021-06-23
weiyan9
Please like and comment ?
- TaroQ:
  Done
- weiyan9:
  thanks thanks ?
Henryee18
2021-06-23
Henryee18
又來了一個巨頭嗎？

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like and comment ?","listText":"Please like and comment ?","text":"Please like and comment 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thanks ?","text":"thanks thanks ?","html":"thanks thanks ?"}],"langContent":"EN"},{"id":123989565,"gmtCreate":1624406579157,"gmtModify":1703835576753,"author":{"id":"3561088065415396","authorId":"3561088065415396","name":"Henryee18","avatar":"https://static.tigerbbs.com/68e1124a4989ce380d6aa143a07b2620","vip":1,"hat":"https://static.tigerbbs.com/646756f1284a5a6480ed02cc4fa7d1d2","crmLevel":8,"crmLevelSwitch":1},"htmlText":"又來了一個巨頭嗎？","listText":"又來了一個巨頭嗎？","text":"又來了一個巨頭嗎？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123989565","repostId":1169498109,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":442,"commentSize":122,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; 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