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- edisontanedisontan
  ·2021-06-23
  oh
  U.S. Fed bank stress tests pave way for stock buyback, dividend bonanza
  WASHINGTON, June 22 (Reuters) - The country's largest lenders are poised to start issuing as much as
  U.S. Fed bank stress tests pave way for stock buyback, dividend bonanza
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- edisontanedisontan
  ·2021-06-23
  wow
  Tencent-backed Missfresh eyes $3.8 billion valuation in U.S. IPO
  (Reuters) - Chinese online grocery startup Missfresh Ltd is planning to raise as much as $336 millio
  Tencent-backed Missfresh eyes $3.8 billion valuation in U.S. IPO
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brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1624403890,"share":"https://ttm.financial/m/news/2145063201?lang=en_US&edition=fundamental","pubTime":"2021-06-23 07:18","market":"us","language":"en","title":"U.S. Fed bank stress tests pave way for stock buyback, dividend bonanza","url":"https://stock-news.laohu8.com/highlight/detail?id=2145063201","media":"Reuters","summary":"WASHINGTON, June 22 (Reuters) - The country's largest lenders are poised to start issuing as much as","content":"<p>WASHINGTON, June 22 (Reuters) - The country's largest lenders are poised to start issuing as much as $130 billion in dividends and stock buybacks from next month after the U.S. Federal Reserve gives them what is expected to be a clean bill of health on Thursday, said analysts.</p>\n<p>The Fed on Thursday will release the results of its \"stress tests,\" an annual health check introduced in the wake of the 2009 financial crisis to see how banks would fare in an extreme hypothetical economic downturn.</p>\n<p>Due to pandemic lockdowns, lenders last year weathered a real-life economic crash that was by many measures more extreme than the Fed's imaginary scenario. The downturn prompted the regulator to issue emergency regulatory relief, curb bank capital distributions, and conduct two additional stress tests in 2020.</p>\n<p>Thanks to those measures, plus low interest rates and government stimulus that held off loan losses, analysts expect the country's largest lenders to perform well on Thursday, leading the Fed to lift remaining capital distribution curbs.</p>\n<p>\"The banks entered the crisis well-capitalized, played an important role in the economic response, and now appear set to reward their shareholders with meaningful capital returns,\" said Isaac Boltansky, director of policy research at Compass Point Research &amp; Trading.</p>\n<p>LIFTING CURBS</p>\n<p>The Fed imposed additional limits on bank capital distributions in June 2020 after a COVID-19 \"sensitivity analysis\" showed overall loan losses at 34 large banks could reach $700 billion, with some lenders falling below minimum required capital levels.</p>\n<p>After banks performed well during another stress test in December, the Fed allowed them to resume buying back stock in addition to paying dividends capped at the bank's annual net income.</p>\n<p>In March, the central bank said that it expected to lift those remaining curbs for “most firms” after its stress tests in June provided banks were above regulatory minimum capital levels.</p>\n<p>Broadly speaking, this year's test is more severe than the 2020 scenario the Fed devised prior to the pandemic, which envisioned unemployment peaking at 10%, but is less severe than December's test which put that figure at 12.5%. For 2021, the hypothetical unemployment rate peaks at 10.75%.</p>\n<p>The KBW Bank Index is up about 25% this year compared with a 13% gain in the S&amp;P 500 index, driven in part by expectations banks will pass easily.</p>\n<p>\"This is <a href=\"https://laohu8.com/S/AONE\">one</a> of the positive catalysts that bank investors are looking for this year,\" said David Long, a Raymond James analyst.</p>\n<p>The Fed rules allow lenders to adjust their buybacks and dividends quarterly. Since April, big lenders have issued more than $40 billion in debt to help finance what some analysts expect to be record payouts.</p>\n<p>\"The numbers are big,\" wrote Glenn Schorr, an Evercore ISI analyst. By his estimates the six biggest banks will spend, on average, 122% of earnings on buybacks and dividends in the 12 months beginning July, more than double the ratio of the previous period.</p>\n<p>Those six - $Bank of America Corp(BAC-N)$ , $Citigroup Inc(C-N)$, Goldman Sachs Group Inc , JPMorgan Chase &amp; Co</p>\n<p><a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> and Wells Fargo &amp; Co together will increase payouts by $66 billion to $130 billion in the next four quarters, according to Schorr's estimates.</p>\n<p>Goldman Sachs did not respond to a request for comment. The other banks and the Fed declined to comment.</p>\n<p>WELLS WINNER?</p>\n<p>Wells Fargo, which has built up capital more rapidly than rivals due in part to a Fed-imposed cap on its balance sheet, is expected to post the biggest jump in payouts - spending an additional $19 billion over the next 12 months by Schorr's estimates.</p>\n<p>All told, the country's fourth-largest lender could pay out 167% of earnings compared with just 28% the previous 12 months, according to Schorr's estimates.</p>\n<p>While the bumper paydays will please shareholders, they are likely to draw ire from Democrats in Washington, who want banks to use their cash to help everyday Americans.</p>\n<p>\"Pressure going forward will be on how to make the...test tougher,” wrote Jaret Seiberg, an analyst at Cowen Washington Research Group.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. Fed bank stress tests pave way for stock buyback, dividend bonanza</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. Fed bank stress tests pave way for stock buyback, dividend bonanza\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-23 07:18</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>WASHINGTON, June 22 (Reuters) - The country's largest lenders are poised to start issuing as much as $130 billion in dividends and stock buybacks from next month after the U.S. Federal Reserve gives them what is expected to be a clean bill of health on Thursday, said analysts.</p>\n<p>The Fed on Thursday will release the results of its \"stress tests,\" an annual health check introduced in the wake of the 2009 financial crisis to see how banks would fare in an extreme hypothetical economic downturn.</p>\n<p>Due to pandemic lockdowns, lenders last year weathered a real-life economic crash that was by many measures more extreme than the Fed's imaginary scenario. The downturn prompted the regulator to issue emergency regulatory relief, curb bank capital distributions, and conduct two additional stress tests in 2020.</p>\n<p>Thanks to those measures, plus low interest rates and government stimulus that held off loan losses, analysts expect the country's largest lenders to perform well on Thursday, leading the Fed to lift remaining capital distribution curbs.</p>\n<p>\"The banks entered the crisis well-capitalized, played an important role in the economic response, and now appear set to reward their shareholders with meaningful capital returns,\" said Isaac Boltansky, director of policy research at Compass Point Research &amp; Trading.</p>\n<p>LIFTING CURBS</p>\n<p>The Fed imposed additional limits on bank capital distributions in June 2020 after a COVID-19 \"sensitivity analysis\" showed overall loan losses at 34 large banks could reach $700 billion, with some lenders falling below minimum required capital levels.</p>\n<p>After banks performed well during another stress test in December, the Fed allowed them to resume buying back stock in addition to paying dividends capped at the bank's annual net income.</p>\n<p>In March, the central bank said that it expected to lift those remaining curbs for “most firms” after its stress tests in June provided banks were above regulatory minimum capital levels.</p>\n<p>Broadly speaking, this year's test is more severe than the 2020 scenario the Fed devised prior to the pandemic, which envisioned unemployment peaking at 10%, but is less severe than December's test which put that figure at 12.5%. For 2021, the hypothetical unemployment rate peaks at 10.75%.</p>\n<p>The KBW Bank Index is up about 25% this year compared with a 13% gain in the S&amp;P 500 index, driven in part by expectations banks will pass easily.</p>\n<p>\"This is <a href=\"https://laohu8.com/S/AONE\">one</a> of the positive catalysts that bank investors are looking for this year,\" said David Long, a Raymond James analyst.</p>\n<p>The Fed rules allow lenders to adjust their buybacks and dividends quarterly. Since April, big lenders have issued more than $40 billion in debt to help finance what some analysts expect to be record payouts.</p>\n<p>\"The numbers are big,\" wrote Glenn Schorr, an Evercore ISI analyst. By his estimates the six biggest banks will spend, on average, 122% of earnings on buybacks and dividends in the 12 months beginning July, more than double the ratio of the previous period.</p>\n<p>Those six - $Bank of America Corp(BAC-N)$ , $Citigroup Inc(C-N)$, Goldman Sachs Group Inc , JPMorgan Chase &amp; Co</p>\n<p><a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> and Wells Fargo &amp; Co together will increase payouts by $66 billion to $130 billion in the next four quarters, according to Schorr's estimates.</p>\n<p>Goldman Sachs did not respond to a request for comment. The other banks and the Fed declined to comment.</p>\n<p>WELLS WINNER?</p>\n<p>Wells Fargo, which has built up capital more rapidly than rivals due in part to a Fed-imposed cap on its balance sheet, is expected to post the biggest jump in payouts - spending an additional $19 billion over the next 12 months by Schorr's estimates.</p>\n<p>All told, the country's fourth-largest lender could pay out 167% of earnings compared with just 28% the previous 12 months, according to Schorr's estimates.</p>\n<p>While the bumper paydays will please shareholders, they are likely to draw ire from Democrats in Washington, who want banks to use their cash to help everyday Americans.</p>\n<p>\"Pressure going forward will be on how to make the...test tougher,” wrote Jaret Seiberg, an analyst at Cowen Washington Research Group.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2145063201","content_text":"WASHINGTON, June 22 (Reuters) - The country's largest lenders are poised to start issuing as much as $130 billion in dividends and stock buybacks from next month after the U.S. Federal Reserve gives them what is expected to be a clean bill of health on Thursday, said analysts.\nThe Fed on Thursday will release the results of its \"stress tests,\" an annual health check introduced in the wake of the 2009 financial crisis to see how banks would fare in an extreme hypothetical economic downturn.\nDue to pandemic lockdowns, lenders last year weathered a real-life economic crash that was by many measures more extreme than the Fed's imaginary scenario. The downturn prompted the regulator to issue emergency regulatory relief, curb bank capital distributions, and conduct two additional stress tests in 2020.\nThanks to those measures, plus low interest rates and government stimulus that held off loan losses, analysts expect the country's largest lenders to perform well on Thursday, leading the Fed to lift remaining capital distribution curbs.\n\"The banks entered the crisis well-capitalized, played an important role in the economic response, and now appear set to reward their shareholders with meaningful capital returns,\" said Isaac Boltansky, director of policy research at Compass Point Research & Trading.\nLIFTING CURBS\nThe Fed imposed additional limits on bank capital distributions in June 2020 after a COVID-19 \"sensitivity analysis\" showed overall loan losses at 34 large banks could reach $700 billion, with some lenders falling below minimum required capital levels.\nAfter banks performed well during another stress test in December, the Fed allowed them to resume buying back stock in addition to paying dividends capped at the bank's annual net income.\nIn March, the central bank said that it expected to lift those remaining curbs for “most firms” after its stress tests in June provided banks were above regulatory minimum capital levels.\nBroadly speaking, this year's test is more severe than the 2020 scenario the Fed devised prior to the pandemic, which envisioned unemployment peaking at 10%, but is less severe than December's test which put that figure at 12.5%. For 2021, the hypothetical unemployment rate peaks at 10.75%.\nThe KBW Bank Index is up about 25% this year compared with a 13% gain in the S&P 500 index, driven in part by expectations banks will pass easily.\n\"This is one of the positive catalysts that bank investors are looking for this year,\" said David Long, a Raymond James analyst.\nThe Fed rules allow lenders to adjust their buybacks and dividends quarterly. Since April, big lenders have issued more than $40 billion in debt to help finance what some analysts expect to be record payouts.\n\"The numbers are big,\" wrote Glenn Schorr, an Evercore ISI analyst. By his estimates the six biggest banks will spend, on average, 122% of earnings on buybacks and dividends in the 12 months beginning July, more than double the ratio of the previous period.\nThose six - $Bank of America Corp(BAC-N)$ , $Citigroup Inc(C-N)$, Goldman Sachs Group Inc , JPMorgan Chase & Co\nMorgan Stanley and Wells Fargo & Co together will increase payouts by $66 billion to $130 billion in the next four quarters, according to Schorr's estimates.\nGoldman Sachs did not respond to a request for comment. The other banks and the Fed declined to comment.\nWELLS WINNER?\nWells Fargo, which has built up capital more rapidly than rivals due in part to a Fed-imposed cap on its balance sheet, is expected to post the biggest jump in payouts - spending an additional $19 billion over the next 12 months by Schorr's estimates.\nAll told, the country's fourth-largest lender could pay out 167% of earnings compared with just 28% the previous 12 months, according to Schorr's estimates.\nWhile the bumper paydays will please shareholders, they are likely to draw ire from Democrats in Washington, who want banks to use their cash to help everyday Americans.\n\"Pressure going forward will be on how to make the...test tougher,” wrote Jaret Seiberg, an analyst at Cowen Washington Research Group.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":927,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129567764,"gmtCreate":1624378052358,"gmtModify":1703835042768,"author":{"id":"3583636822775873","authorId":"3583636822775873","name":"edisontan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583636822775873","idStr":"3583636822775873"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/129567764","repostId":"1169498109","repostType":4,"repost":{"id":"1169498109","kind":"news","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1624376440,"share":"https://ttm.financial/m/news/1169498109?lang=en_US&edition=fundamental","pubTime":"2021-06-22 23:40","market":"us","language":"en","title":"Tencent-backed Missfresh eyes $3.8 billion valuation in U.S. IPO","url":"https://stock-news.laohu8.com/highlight/detail?id=1169498109","media":"Reuters","summary":"(Reuters) - Chinese online grocery startup Missfresh Ltd is planning to raise as much as $336 millio","content":"<p>(Reuters) - Chinese online grocery startup Missfresh Ltd is planning to raise as much as $336 million from its U.S. initial public offering, which is expected to value the company at up to $3.8 billion at the top end of the range.</p>\n<p>Missfresh, which is backed by an affiliate of Chinese gaming and social media giant Tencent Holdings Ltd, is offering 21 million American Depositary Shares (ADSs) at a price range of between $13 and $16 each.</p>\n<p>Founded in 2014, Missfresh is a mobile e-commerce platform that offers delivery services of fresh produce, including fruits, vegetables, dairy products, meat, beverages and drinks, and other daily dining and living items.</p>\n<p>The COVID-19 pandemic has fueled online demand for fresh produce in China, with e-commerce companies including Dingdong Macai, Alibaba Group and Pinduoduo competing aggressively to grab a major slice of that vast market.</p>\n<p>Earlier this month, Dingdong also filed to list in the United States.</p>\n<p>Missfresh also counts Abu Dhabi Capital Group and Tiger Global Management among its backers.</p>\n<p>J.P. Morgan, Citigroup, CICC and China Renaissance are the lead underwriters for the offering.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tencent-backed Missfresh eyes $3.8 billion valuation in U.S. IPO</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTencent-backed Missfresh eyes $3.8 billion valuation in U.S. IPO\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-22 23:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(Reuters) - Chinese online grocery startup Missfresh Ltd is planning to raise as much as $336 million from its U.S. initial public offering, which is expected to value the company at up to $3.8 billion at the top end of the range.</p>\n<p>Missfresh, which is backed by an affiliate of Chinese gaming and social media giant Tencent Holdings Ltd, is offering 21 million American Depositary Shares (ADSs) at a price range of between $13 and $16 each.</p>\n<p>Founded in 2014, Missfresh is a mobile e-commerce platform that offers delivery services of fresh produce, including fruits, vegetables, dairy products, meat, beverages and drinks, and other daily dining and living items.</p>\n<p>The COVID-19 pandemic has fueled online demand for fresh produce in China, with e-commerce companies including Dingdong Macai, Alibaba Group and Pinduoduo competing aggressively to grab a major slice of that vast market.</p>\n<p>Earlier this month, Dingdong also filed to list in the United States.</p>\n<p>Missfresh also counts Abu Dhabi Capital Group and Tiger Global Management among its backers.</p>\n<p>J.P. Morgan, Citigroup, CICC and China Renaissance are the lead underwriters for the offering.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169498109","content_text":"(Reuters) - Chinese online grocery startup Missfresh Ltd is planning to raise as much as $336 million from its U.S. initial public offering, which is expected to value the company at up to $3.8 billion at the top end of the range.\nMissfresh, which is backed by an affiliate of Chinese gaming and social media giant Tencent Holdings Ltd, is offering 21 million American Depositary Shares (ADSs) at a price range of between $13 and $16 each.\nFounded in 2014, Missfresh is a mobile e-commerce platform that offers delivery services of fresh produce, including fruits, vegetables, dairy products, meat, beverages and drinks, and other daily dining and living items.\nThe COVID-19 pandemic has fueled online demand for fresh produce in China, with e-commerce companies including Dingdong Macai, Alibaba Group and Pinduoduo competing aggressively to grab a major slice of that vast market.\nEarlier this month, Dingdong also filed to list in the United States.\nMissfresh also counts Abu Dhabi Capital Group and Tiger Global Management among its backers.\nJ.P. Morgan, Citigroup, CICC and China Renaissance are the lead underwriters for the offering.","news_type":1,"symbols_score_info":{"MF":0.9}},"isVote":1,"tweetType":1,"viewCount":1108,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}