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Dada Nexu Prices IPO At $16/ADS

Dada Nexus Limited (DADA) , a platform for local on-demand retail and delivery in China, said that it has priced its initial public offering of 20 million American depositary shares or "ADSs", each represents 4 ordinary shares of the Company, at US$16 per ADS for total gross proceeds of US$320 million.

The ADSs are expected to begin trading on the NASDAQ Global Select Market today under the ticker symbol "DADA."

The company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of three million additional ADSs.

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