PSI Group Holdings, a Hong Kong-based provider of air and ocean freight forwarding services, withdrew its plans for an initial public offering on Friday. It had in March 2023 filed to raise $16 million by offering 3.3 million shares at a price range of $4 to $6.
The Hong Kong-based company was founded in 1993 and booked $122 million in revenue for the 12 months ended June 30, 2022. It had planned to list on the Nasdaq under the symbol PSIG. Univest Securities was set to be the sole bookrunner on the deal.
