Chinese online grocery firm Dada looks to raise over $280 mln in U.S. IPO

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(Reuters) – Dada Nexus Ltd said on Monday it aims to raise up to $280.5 million in an initial public offering (IPO) that could value the Chinese online grocery firm at over $3.72 billion.

The company, whose IPO comes amid tighter restrictions on flotations by Chinese companies going public in the U.S., set bit.ly/3gFAHjj a price range of $15 to $17 per American Depository Share (ADS) for its offering of 16.5 million ADS.

Reporting by Abhishek Manikandan in Bengaluru; Editing by Ramakrishnan M.

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