Dada Nexus (DADA) said Monday that its board has received a preliminary, non-binding proposal from JD.com to purchase all outstanding ordinary shares, including ADSs, for $2.0 per ADS in cash.

The offer price reflects a 42% premium over Dada Nexus' closing price on the trading day prior to the offer date of Jan. 25, the company stated.

A special committee of three independent directors, headed by Laura Marie Butler, has been established to assess the proposal, Dada Nexus said.

Dada Nexus emphasized no decisions have been finalized, and there is no certainty the proposal will lead to a definitive agreement or completed transaction.

Dada shares were up almost 27% in recent premarket activity.