Golden 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.
