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SoftBank-backed Dingdong targets over $6 bln valuation in U.S. IPO

Reuters2021-06-23

June 22 (Reuters) - Chinese unicorn Dingdong, backed by SoftBank Vision Fund II, is aiming for over $6 billion valuation in its New York debut as the online grocer joins Asian tech startups seeking to tap into the IPO boom in the United States.

The company said it aims to raise up to $357 million in its IPO as it seeks to compete in a crowded sector that has seen established players including Alibaba Group and Pinduoduo competing aggressively.

Dingdong, which is also backed by Tiger Global Management, will sell 14 million American Depositary Shares (ADSs) priced between $23.50 and $25.50 each, according to its filing.

The COVID-19 pandemic has fueled online demand for fresh produce in China. Tencent Holdings Ltd-backed Missfresh, another Chinese online grocery startup, also set its IPO terms earlier on Tuesday, targeting a valuation of nearly $3.8 billion.

Dingdong plans to list its shares on the New York Stock Exchange under the symbol “DDL”. Morgan Stanley, BofA Securities and Credit Suisse are the IPO’s lead underwriters.

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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Comment24

  • KopiKit
    ·2021-06-23
    What's your opinion on Dingdong?
    Reply
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  • kcwang4982
    ·2021-06-23
    Ok n go 
    Reply
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  • A2Hong
    ·2021-06-23
    Leggo
    Reply
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  • Amazingday
    ·2021-06-23
    Is this gonna be a good one?
    Reply
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  • dangox3
    ·2021-06-23
    Nice
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  • Monday1413
    ·2021-06-23
    Well done 
    Reply
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  • Tongdadd
    ·2021-06-23
    Another IPO seizing the opportunity 
    Reply
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  • KohJinHui
    ·2021-06-23
    Nice
    Reply
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  • xnoobletx
    ·2021-06-23
    Good
    Reply
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  • Henryee18
    ·2021-06-23
    好呀
    Reply
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    • 35a510b1
      like n comment
      2021-06-23
      Reply
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  • Boazie
    ·2021-06-23
    Easy money with softbank always...
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  • Hellop12345
    ·2021-06-23
    Interesting
    Reply
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  • 星行者
    ·2021-06-23
    Good
    Reply
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  • AxThePro
    ·2021-06-23
    Great. Please comment. 
    Reply
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    • AJAJ
      Ok pls reply
      2021-06-23
      Reply
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  • Junhan
    ·2021-06-23
    Awesome!
    Reply
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    • Huat899
      Pls like and comment back, thanks
      2021-06-23
      Reply
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  • Rockyspider
    ·2021-06-23
    Hi
    Reply
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    • Huat899
      Pls like and comment back, thanks
      2021-06-23
      Reply
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  • Whlaing
    ·2021-06-23
    Great post!
    Reply
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  • AzuNyaa
    ·2021-06-23
    Dingdong sound like a man's certain part [開心] [笑哭] 
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  • AzuNyaa
    ·2021-06-23
    This dingdong has a big backing. If you know what I mean [笑哭] 
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  • Shop
    ·2021-06-23
    wow
    Reply
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