AdChina, a China-based internet advertising platform part-owned by media group News Corporation, has withdrawn registration for a $100m flotation on the Nasdaq stock exchange.

News Corp’s News America subsidiary owned 9.2% of AdChina, according to its regulatory filing from the original listing document in February last year.

Venture capital firms GSR Ventures, Richmond Global and Norwest Venture Partners owned 29.9%, 14.9% and 10.9%, respectively.

Investment banks Goldman Sachs (Asia) and Credit Suisse were lead underwriters to AdChina’s initial public…

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