Missfresh shares soar in price and trading volume

Missfresh

04/08/2023 17:18

** Shares in Missfresh Ltd  MF.O  up 259.3% at $1.85 on Friday
with record trading volume and multiple volatility halts for the
stock; filing issued late Thursday outlines $27 mln stock sale
    ** MF, a China-based holding co providing fresh produce,
consumer goods via e-commerce platform and distributed mini
warehouse (DMW) networks, last showed trading volume of ~82
million share so far for Friday 
    ** In next busiest trading session for the co 7.59 mln
shares had changed hands on May 16
    ** According to regulatory filing made with SEC, Co said
entered share purchase agreements with investors including
MejoyInfinite Limited 
    ** Under the deal - approved by co board but subject to
closing conditions - it said investors would buy 5.4 mln Class B
ordinary shares for $27.0 million with the investors holding
88.1% of outstanding shares and agreeing to delegate voting
rights of all shares to Missfresh chairman and CEO Zheng Xu
     

 (Reporting By Sinéad Carew)
 ((sinead.carew@thomsonreuters.com; +13322191897;))