The Lenovo and Tencent-backed digital grocer’s shares fell almost 26% in price after it priced its shares at the foot of their range.
MissFresh, a China-based online grocery retailer backed by consumer electronics manufacturer Lenovo and internet group Tencent, raised $273m in an initial public offering on the Nasdaq Global Select Market on Friday.
The company priced 21 million American depositary shares, each representing three ordinary shares, at $13 each, at the low end of the $13-$16 range it had set last week. They opened at $10.65 and closed at $9.66 at the end of its first day of trading, giving it…
