Chinese peer-to-peer lending marketplace HeZhong International withdraws $5 million US IPO


HeZhong International Holding, which operates a peer-to-peer lending marketplace in China, withdrew its IPO plans on Wednesday, citing its inability to restructure and improve its business prospects for a successful IPO. It had applied to raise $5 million by offering 1.3 million shares at $4.

Based in Shenzhen, China, the company was founded in 2018 and had sales of $29 million for the 12 months ended December 31, 2018. It had planned to be listed on the Nasdaq under the symbol HZ.

The item Chinese peer-to-peer lending marketplace HeZhong International withdraws $5 million US IPO originally appeared on IPO investment manager Renaissance Capital’s website renaissancecapital.com.

Disclosure of investments: 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 securities. Renaissance Capital Renaissance IPO ETF (Symbol: IPO), Renaissance International ETF (Symbol: IPOS)or separately managed institutional accounts may have investments in securities of the named companies.

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