IPOs

Chinese auto loan intermediary To Prosperity Technology withdraws $8 million US IPO

To Prosperity Technology, which provides auto loan services for ridesharing drivers in Sichuan, China, withdrew its plans for an initial public offering on Tuesday. It originally filed in May 2019 with a proposed deal size of $8 million.

The Sichuan, China-based company was founded in 2014 and booked $1 million in revenue for the 12 months ended September 30, 2018. It had planned to list on the Nasdaq under the symbol BCHT. The company had not yet selected underwriters.

The article Chinese auto loan intermediary To Prosperity Technology withdraws $8 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

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

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