SoftBank-backed Dingdong rises 19% in market debut, valued at $6.6b

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 $6.6 billion.

Stock opened at $28 per share, up from the initial public offering price of $23.50 per share.