Lemeng Holdings, which provides mobile advertising services in China, withdrew its plans for an initial public offering on Friday. It had originally filed in October 2022, and set terms in May 2023 to raise $20 million by offering 4 million shares at a price range of $4 to $6. It had last updated its papers in November 2023.
The Beijing, China-based company was founded in 2014 and booked $69 million in revenue for the 12 months ended June 30, 2023. It had planned to list on the Nasdaq under the symbol LIAI. Prime Number Capital was set to be the sole bookrunner on the deal.
