GDC Technology, a China-based provider of digital cinema servers backed by Carlyle, withdrew its plans for an initial public offering on Tuesday. The company originally set terms to raise $75 million at a diluted market cap of $317 million in June 2013 but postponed its offering.
The Hong Kong-based company was founded in 1999 and booked $125 million in sales for the 12 months ended March 31, 2013. It had planned to list on the NASDAQ under the symbol GDCT. Barclays, Jefferies and Piper Jaffray were set to be the joint bookrunners on the deal.
