It was hoping Wall Street would gobble up its shares, but DDC Enterprise Ltd. (DDC.US) discovered a distinct lack of investor appetite instead.
The Shanghai-based seller of Asian prepared foods and cooking content, also known as DayDayCook, made one of the biggest IPOs by an Asian company in New York this year, raising about $33.15 million with a sale of 3.9 million shares last Friday. The amount was far shy of the $44.6 million it originally targeted, as the final $8.50 share price came in even lower than the original price range of $9.50 and $11.50 from the company’s latest prospectus filed Nov. 8.
https://www.sec.gov/Archives/edgar/data/1808110/000121390023084568/ff12023a6_ddcenterprise.htm
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