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Chinese Fresh Food Retail Platform MISSFRESH LIMITED Set Terms for $305 Million US IPO

Esther Thin

Missfresh Limited, a fresh food retail platform in China, has filed Amendment No 1 to Form F-1 Registration Statement on June 22, 2021 with the U.S. Securities and Exchange Commission to announce terms for its IPO.

The company plans to raise $305 million by offering 21 million shares at a price range of $13 to $16. Assuming a successful IPO at the midpoint of the proposed price, the company expects a market capitalization of $3.6 billion.

The company’s “Missfresh” mobile application and Mini Program embedded in third-party social platforms, which feature substantially similar user interface and functions, consumers can easily purchase quality groceries at their fingertips and receive high-quality products delivered by our delivery riders to their doorstep.

The Beijing, China-based company was founded in 2014 and booked $933 million in sales for the 12 months ended March 31, 2021. It plans to list on the Nasdaq Stock Market under the symbol “MF.” J.P. Morgan, Citi, CICC, China Renaissance, CMB International Capital, ICBC International, Needham & Co., Futu Securities, and Tiger Brokers are underwriters of the IPO.

The company engages Skadden, Arps, Slate, Meagher & Flom LLP as US Securities Counsel, and PricewaterhouseCoopers Zhong Tian LLP as Independent Auditor.

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