Tencent-Backed Missfresh Weighs Unit Stake Sale for Funds

Missfresh Ltd. is weighing selling stakes in a unit that offers services to fresh produce sellers including business consultation and setting up online stores, according to people familiar with the matter, as the struggling firm looks for a lifeline.

The Tencent Holdings Ltd.-backed firm is working with advisers to gauge investor interest for its intelligent fresh market business, said the people, who asked not to be identified as the information is private. The process kicked off late last year and Missfresh is seeking a valuation of about $100 million for the unit, the people said. That’s higher than the New York-listed company’s market value of $79 million.