The Didi Chuxing, Tencent and Taikang Life-backed automotive sales services provider had originally targeted $300m and then $150m.
Cango, a China-based automotive sales service provider backed by corporates Tencent, Taikang Life Insurance and Didi Chuxing, has floated in the US in a $44m initial public offering.
The offering consisted of 4 million American depositary shares (ADSs) priced at $11.00 each issued on the New York Stock Exchange. The company had initially targeted $300m for the IPO before setting a $10 to $12 range for 12.5 million ADSs two weeks ago.
Cango operates an online platform that connects…
