TuanChe, which operates an automotive marketplace in China, filed on Tuesday with the SEC to raise up to $150 million in an initial public offering. The deal is being marketed on a best efforts, min-max basis, and will therefore be excluded from Renaissance Capital's IPO stats.
The Beijing, China-based company was founded in 2010 and booked $41 million in sales for the 6 months ended June 30, 2018. It plans to list on the Nasdaq under the symbol TC. TuanChe filed confidentially on July 31, 2018. Maxim Group LLC and AMTD Asset Management are the joint bookrunners on the deal. No pricing terms were disclosed.
