Chinese Delivery Firm Preps $264M IPO Amid U.S.-China Spat
Law360 (June 1, 2020, 8:36 PM EDT) -- Chinese online delivery platform Dada Nexus Ltd. on Monday set a price range on an estimated $264 million initial public offering, undeterred by U.S. efforts to increase scrutiny of Chinese-based public companies amid escalating tension between the two countries.
Shanghai-based Dada Nexus told regulators it plans to offer 16.5 million American depositary shares priced at $15 and $17, raising $264 million at midpoint. The company is represented by Skadden, Arps, Slate, Meagher & Flom LLP, while Kirkland & Ellis LLP is advising the underwriters.
Dada Nexus operates JD-Daojia and Dada Now, which it describes as two of China's top online delivery...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!