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Uxin, one of China's leading used car platform, sets terms for $437 million US IPO

June 13, 2018
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Uxin, which is one of China's largest online used-car marketplace for businesses and consumers, announced terms for its IPO on Wednesday.

The Beijing, China-based company plans to raise $437 million by offering 38 million ADSs at a price range of $10.50 to $12.50. At the midpoint of the proposed range, Uxin would command a fully diluted market value of $3.5 billion.

Uxin was founded in 2011 and booked $354 million in sales for the 12 months ended March 31, 2018. It plans to list on the Nasdaq under the symbol UXIN. Morgan Stanley, Goldman Sachs (Asia), J.P. Morgan, CICC and China Renaissance are the joint bookrunners on the deal. It is expected to price during the week of June 25, 2018.