China Commercial Credit decreases proposed IPO deal size to $13 million

By
A A A

China Commercial Credit, a microcredit lender to small businesses in the Jiangsu Province of China, lowered the proposed deal size for its upcoming IPO on Thursday. The Wujiang, China-based company now plans to raise $13 million by offering 1.9 million shares at a price range of $6 to $7. The company had previously filed to offer 2.7 million shares at the same range. At the midpoint of the revised range, China Commercial Credit would raise 29% fewer proceeds than previously anticipated. 

China Commercial Credit, which was founded in 2008 and booked $13 million in sales for the 12 months ended March 31, 2013, plans to list on the NASDAQ under the symbol CCCR. China Commercial Credit initially filed confidentially on February 14, 2013. Burnham Securities and Axiom Capital Management are the joint bookrunners on the deal. It is expected to price during the week of July 29, 2013.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

Referenced Stocks: CCCR

Renaissance Capital

Renaissance Capital

More from Renaissance Capital:

Related Videos

Why Bankers Are Dishonest
Why Bankers Are Dishonest           

Stocks

Referenced

Most Active by Volume

61,589,609
  • $35.95 ▲ 4.66%
52,206,120
  • $39.92 ▼ 2.49%
48,647,533
  • $17 ▼ 0.35%
41,081,140
  • $9.71 ▲ 2.32%
38,883,256
  • $116.31 ▲ 1.43%
35,895,170
  • $109.82 ▲ 0.92%
28,527,465
  • $8.98 ▲ 2.39%
28,391,104
  • $8.69 ▲ 1.40%
As of 11/20/2014, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com