Cango, an online car marketplace for businesses and consumers in China, filed on Friday with the SEC to raise up to $300 million in an initial public offering.
The Shanghai, China-based company was founded in 2010 and booked $194 million in sales for the 12 months ended March 31, 2018. It plans to list on the NYSE under the symbol CANG. Cango filed confidentially on March 23, 2018. Morgan Stanley, BofA Merrill Lynch and Goldman Sachs (Asia) are the joint bookrunners on the deal. No pricing terms were disclosed.
