ATHM - TuanChe Seeks Up To $150 Million In Best Efforts IPO
Quick Take
TuanChe (TC) intends to raise gross proceeds of $150 million from a U.S. IPO, according to an F-1 registration statement.
The firm operates as an online and offline car dealership intermediary in China.
TC has grown topline revenue rapidly in recent periods, but the Chinese auto industry is currently in contraction likely due to the ongoing trade war with the U.S.
I’ll provide a final opinion when we learn more details from management about the IPO.
Company & Technology
Beijing, China-based TuanChe was founded in 2010 to connect and match