Dingdong Maicai IPO debut with $95.7M raise

Chinese on-demand grocer Dingdong Maicai IPO debut made headlines as it raised $95.7 million. This came after the company priced its shares at the lower end of the range.  Dingdong Maicai’s debut received a lukewarm reception. Even though it cut its original IPO target by 74% a day before the debut. Coming days after its rival MissFresh’s disappointing Nasdaq debut, it reflects declining market sentiment for Chinese online grocers.

Details on Dingdong Maicai IPO debut

Dingdong Maicai went public on the New York Stock Exchange, just four days after its rival MissFresh debuted to a disappointing result on Nasdaq. Shares of Dingdong Maicai inched up 0.09% on the first trading day and rose 5.23% in after-hours trading.

dingdong Dingdong Maicai IPO debut with $95.7M raise

The company raised only a quarter of its original target of $357 million. It reduced the target 74% to $94.4 million a day before. Dingdong Maicai’s founder and CEO Liang Changlin told local media that the company has “sufficient cash” after raising a combined $1.03 billion in two funding rounds finalized in April and May this year.

The CEO further added that those private investments had allowed Dingdong to be flexible in the IPO. “Fundraising is not the primary goal for this IPO,” Liang told local media. 


Alex is a seasoned editor and writer with a deep passion for technology and startups. With a background in journalism, content creation, and business development, Alex brings a wealth of experience and a unique perspective to the ever-changing world of innovation. As the lead editor at Startup World, Alex is committed to discovering the hidden gems in the startup ecosystem and sharing these exciting stories with a growing community of enthusiasts, entrepreneurs, and investors. Always eager to learn and stay updated on the latest trends, Alex frequently attends industry events and engages with thought leaders to ensure Startup World remains at the forefront of startup news and insights. Alex's dedication and expertise help create an engaging platform that fosters knowledge-sharing, inspiration, and collaboration among tech-savvy readers worldwide.

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