June 29 (Reuters) – Shares of Dingdong, backed by SoftBank Vision Fund II, opened 19% above their offer price in their market debut in the United States on Tuesday, giving the Chinese grocery app a valuation of over $7 billion.
Stock opened at $28 per share, up from the initial public offering price of $23.50 per share.
Reporting by Niket Nishant in Bengaluru; Editing by Ramakrishnan M.
