Chinese online grocery firms Dingdong, Missfresh have a tough IPO


A driver packs delivery orders into the back of an electric motorcycle outside a Missfresh warehouse.

Gilles Sabrie | Bloomberg | Getty Images

GUANGZHOU, China — Two Chinese grocery delivery start-ups — Missfresh and Dingdong — have had uninspiring starts following their initial public offerings in the U.S.

Investors are concerned about the cut-throat competition in the Chinese market around grocery deliveries and whether these companies will ever become profitable.

Missfresh, which is backed by Chinese technology giant Tencent, went public on Friday on the Nasdaq, pricing its American depositary shares (ADS) at $13 each and raising around $273 million. Since then, shares have fallen…


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