An internet used car marketplace for both consumers and businesses in China, Cango, recently filed with the SEC to begin raising up $300 million as apart of their initial public offering.
The Shanghai, China-based company was founded in 2010 and booked $194 million in sales for the 12 months ended March 31, 2018. It plans to list on the NYSE under the symbol CANG. Cango filed confidentially on March 23, 2018. Morgan Stanley, BofA Merrill Lynch and Goldman Sachs (Asia) are the joint book-runners on the deal. No pricing terms were disclosed.
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