Dada Nexus kicks off $281m US IPO roadshow

By Jonathan Breen
02 Jun 2020

China’s Dada Nexus, an operator of on-demand retail and delivery platforms, has launched bookbuilding for its up to $280.5m US listing, according to a source familiar with the matter.

The issuer, which counts Chinese e-commerce company and retail giant Walmart among its backers, is listing 16.5m American Depository Shares (ADS) on the Nasdaq.

Bookrunners Bank of America, Goldman Sachs and Jefferies began taking orders for the stock on Tuesday morning in Hong Kong.

The trio ...

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