"Possible Listing Within This Year"
[Asia Economy Reporter Cho Hyun-ui] The initial public offering (IPO) size of Missfresh, a Chinese online fresh food platform preparing for a U.S. listing, is expected to reach at least $500 million (approximately 558.9 billion KRW).
On the 8th, Hong Kong's South China Morning Post (SCMP) reported, citing anonymous sources, that "Missfresh has started preparations aiming for a U.S. stock market listing as early as this year."
The source said, "They are considering expanding the IPO size up to $1 billion, but it is still in the early stages," adding, "The specific timing of the listing and the amount to be raised have not been decided yet."
Missfresh is an online fresh food platform that delivers over 4,000 types of products including vegetables, seafood, snacks, and prepared foods within 30 minutes. Goldman Sachs, Tiger Global Management, and Tencent Holdings have participated in the investment.
Chinese online fresh food platforms are consecutively pursuing listings on the U.S. stock market. According to Bloomberg News, Dingdong Maicai, ranked sixth in the industry, is also preparing for a U.S. listing within this year.
SCMP stated, "As more people stay at home due to COVID-19, the online fresh food market, once considered a challenging sector, is gaining momentum."
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