SoftBank-backed Dingdong raises $95.7 million in downsized U.S. IPO

A delivery worker of Chinese online grocery Dingdong Maicai works at a shop on a street in Shanghai, China June 10, 2021. REUTERS/Aly Song/Files

(Reuters) - Chinese grocery app Dingdong, backed by SoftBank Vision Fund 2, raised about $95.69 million in its U.S. initial public offering on Tuesday after downsizing it on Monday.

The company was earlier planning to raise up to $357 million in its IPO.