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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.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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  • Nightly 
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  • bzlim
    ·2021-06-23
    Long Tencent? 
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  • RS142
    ·2021-06-23
    ?
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  • Roychai
    ·2021-06-23
    Good
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  • weiyan9
    ·2021-06-23
    Please like and comment ?
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    • TaroQ
      Done
      2021-06-23
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    • weiyan9
      thanks thanks ?
      2021-06-23
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  • Henryee18
    ·2021-06-23
    又來了一個巨頭嗎?
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  • S071
    ·2021-06-23
    Comment n like
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    • MRMR
      ok
      2021-06-23
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  • Sow
    ·2021-06-23
    excellent
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  • Wangal
    ·2021-06-23
    ?
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  • Jdenchew
    ·2021-06-23
    Comment and like
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  • Frisbee
    ·2021-06-23
    yup
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  • Longtree
    ·2021-06-23
    Omg
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  • VirusK
    ·2021-06-23
    ??
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  • Shiki0306
    ·2021-06-23
    Ooo
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    • Frisbee
      yes
      2021-06-23
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  • vinchoo
    ·2021-06-23
    Good
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  • LimChoiPing
    ·2021-06-23
    Hi
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  • AHO
    ·2021-06-23
    Latest
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  • danger21
    ·2021-06-23
    Like and comment
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  • YH17
    ·2021-06-23
    Please like and comment, thanks.
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    • YH17
      Done.
      2021-06-23
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    • danger21
      pls reply comment
      2021-06-23
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  • SP1980
    ·2021-06-23
    Buy
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    • Shungou
      Strong sponsor
      2021-06-23
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    • Winner168
      Anything from 10cent is good stuff
      2021-06-23
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