NEW YORK (Reuters) - Chinese online grocery firm Dada Nexus Ltd (O:DADA) expects to price its U.S. initial public offering (IPO) at the mid-point of its targeted range and sell more stock than originally planned, according to people familiar with the matter.
Dada is seeking to sell 21 million Depository Shares (ADS) at $16 each, raising $336 million, the sources said, cautioning that the price and deal size are still subject to change. The company on Monday had set a price range of $15 to $17 for 16.5 million ADS in the IPO.
Dada declined to comment.