The Tencent-backed social media app developer was aiming to raise $198m in the offering but has withdrawn in favour of alternative financing options.
Soulgate, a China-headquartered social media app developer backed by internet and gaming group Tencent, yesterday postponed an initial public offering set to take place on the Nasdaq Global Market.
The company set the range for the offering last week and planned to issue 13.2 million American depositary shares, each representing three ordinary class A shares, on the Nasdaq Global Market priced between $13 and $15 each. It would have raised $198m at the upper end.
Video game developer Miyoho…
