GF Hong Kong Assists Missfresh in its Successful Listing on NASDAQ
2021-06-30 16:35 GF Securities (Hong Kong)
On 25 June 2021 (US Eastern Time), GF Securities (Hong Kong) Brokerage Limited (hereinafter referred to as "GF Hong Kong"), as a member of the underwriting syndicate, helped Missfresh (stock code: MF) to be successfully listed on NASDAQ.
Missfresh issued a total of 21 million (up to 24.15 million after the green-shoe) American Depositary Receipts (ADS), with an offering price of US$13 per ADS, and raised a total amount of approximately US$273 million (before the green-shoe) in this listing. As the underwriter, GF Hong Kong’s professional team has leveraged its expertise and experience to provide Missfresh with quality, timely, professional and all-round services.
Alex Yan, Managing Director and Head of Investment Banking of GF Hong Kong, said: "As one of the largest consumer markets in the world, China boasts huge economies of scale. Digital transformation of traditional industries through continuous innovation will not only enhance consumer experiences, but will also nurture more world-class companies in China. GF Hong Kong is committed to serving clients in the consumer, TMT and biomedical sectors. By providing global capital market services, we help our clients achieve leapfrog development, while supporting the real economy to transform."
As of 31 March 2021, Missfresh operated a technology-enabled network of 631 distributed mini warehouse in 16 cities in China, providing consumers with more than 4,300 SKUs. Their proprietary order processing, packaging, and routing technology allows them to deliver orders to consumers in 39 minutes on average . To further digitalize the neighborhood retail industry end-to-end, they launched their intelligent fresh market business in the second half of 2020 and started the retail cloud business initiative in 2021, further empowering players in the neighborhood retail industry to embrace the digital transformation with AI-driven technology platform and other core capabilities.
