Dada group raised 520 million US dollars by issuing ads, and the price of new shares was 50 US dollars

category:Finance
 Dada group raised 520 million US dollars by issuing ads, and the price of new shares was 50 US dollars


After the announcement of the plan, dada group was sought after by investors in the open market and oversubscribed. The price is only 6.7% lower than the closing price of 53.6 US dollars.

According to the previous announcement, the company announced plans to issue 9 million ads shares in this transaction. The company has granted the underwriters of this ads issuance the over allotment right for a total of 1.35 million shares of ads for a period of 30 days. If the over allotment right is exercised, 10.35 million ads shares will be issued. Based on this calculation, dada group will issue 520 million US dollars this time. The issuance is expected to be completed on December 7, 2020.