Unitrend Entertainment Group, which provides TV program distribution and ad placement services in China, withdrew its plans for an initial public offering on Wednesday. It had filed with the SEC to raise $5.6 million by offering 1.25 million shares at a price range of $4.00 to $5.00. At the midpoint of the proposed range, it would have been valued at $96 million.
The Beijing, China-based company was founded in 2010 and booked $21 million in sales for the 12 months ended December 31, 2024. It had planned to list on the Nasdaq under the symbol INHI. Cathay Securities and Revere Securities were set to be the joint bookrunners on the deal.
