SINGAPORE, June 18 (Reuters) - DSC Holdings, a Chinese company that provides operating systems and transaction services for used car dealers, aims to raise up to $62 million from a sale of shares on the Nasdaq, a deal sheet showed.
DSC received rare approval from China's securities regulator for a Nasdaq listing, Reuters reported in April, saying it was the first such nod for a U.S. listing in four months and just the regulator's third in the prior 12 months
DSC, also known as DaSouChe, has raised about $1.2 billion from investors such as Ant Group, Warburg Pincus, Primavera and 5Y Capital, its website, opens new tab shows.
"We are unable to comment on market speculation or media reports," DSC said in an emailed response to Reuters, adding that it was in the process of a proposed public offering and referring to its public SEC filings for details.
Here are more details from the sheet:
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The company is offering 3 million shares at $16 to $18 each, which would raise up to $54 million before the overallotment option. The deal could rise to $62 million if underwriters buy another 450,000 shares.
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DSC plans to use the proceeds to expand services for auto merchants, invest in technology and fund working capital.
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Pricing is expected on June 24.
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CICC, Deutsche Bank, China Renaissance and ICBCI are joint bookrunners.
Reporting by Yantoultra Ngui; Editing by Thomas Derpinghaus
Source: Reuters