Chinese Car Software Maker DSC Seeks Up to $54 Million from Nasdaq Listing

MT Newswires Live

Jun 18

Chinese car software manufacturer DSC Holdings is seeking to raise up to $54 million from its initial public offering on the Nasdaq, according to a filing with the U.S. Securities and Exchange Commission Wednesday.

The firm expects to price its IPO of 3 million American depositary shares at between $16 and $18 each to raise funds to boost its digital products and transaction services for automotive sellers, invest in technology, and for general working purposes.

API (Hong Kong) Investment, which is wholly owned by Ant Group, has indicated it will purchase up to $30 million of the ADSs, DSC Holdings said.

Deutsche Bank Hong Kong Branch, China International Capital Corp. Hong Kong Securities, CR Global Markets, and ICBC International Securities are the underwriters of the offering.

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