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...

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