New Ruipeng Pet Group, which operates a network of nearly 1,900 pet hospitals in China, withdrew its plans for an initial public offering on Thursday. It originally filed in January 2023 with a proposed deal size of $100 million.
The Shenzhen, China-based company was founded in 1998 and booked $792 million in revenue for the 12 months ended December 31, 2022. It had planned to list on the Nasdaq under the symbol RPET. Morgan Stanley, Credit Suisse, CICC, and UBS Investment Bank were set to be the joint bookrunners on the deal.
