Dingdong Maicai Slashes IPO by 70% While MissFresh Stocks Plummets on Nasdaq Debut

(Source: Dingdong Maicai)

According to JIEMIAN.COM, Dingdong Maicai, a Chinese fresh grocery app, downsized its initial public offering (IPO) in the US to a quarter of its planned target on Monday.

Dingdong Maicai now says it will seek to raise up to $94.4 million, down 74% from the $357 million it initially planned to raise. Dingdong Maicai will issue 3.…