Credit: Shutterstock photoGolden Bull, which provides a peer-to-peer lending platform in China for auto-secured loans, lowered the proposed deal size for its upcoming IPO on Friday.
The Shanghai, China-based company now plans to raise $7 million by offering 1.6 million shares at a price range of $4.00 to $4.50. The company had previously filed to offer 2 million shares at the same range. At the midpoint of the revised range, Golden Bull will raise -23% less in proceeds than previously anticipated.
Golden Bull was founded in 2015 and booked $5 million in sales for the 12 months ended June 30, 2017. It plans to list on the Nasdaq under the symbol DNJR. ViewTrade is the sole bookrunner on the deal.
The article Chinese peer-to-peer lender Golden Bull decreases proposed US IPO deal size to $7 million originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
