June 5, 2020 / 4:22 PM / a month ago

China's Dada Nexus shares rise 14% in U.S. market debut

June 5 (Reuters) - Shares of online grocery firm Dada Nexus Ltd jumped 14.3% in their stock market debut amid intense scrutiny of Chinese companies pursuing U.S. listings.

Dada’s stock opened at $18.30, valuing the company at over $4 billion.

Earlier, Dada raised $320 million in an upsized initial public offering, which was priced at $16 per share. It had marketed a price range of $15 to $17 per American depositary share. (Reporting by Abhishek Manikandan; Editing by Anil D’Silva)

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