MED EIBY Holding, a Chinese retailer of self-manufactured and third party medical devices, withdrew its plans for an initial public offering on Tuesday. It had filed in February 2023 to raise $20 million by offering 4 million shares at a price range of $4 to $6. At the midpoint of the proposed range, it would have commanded a market cap of $95 million.
The Shenzhen, China-based company was founded in 2001 and booked $3 million in revenue for the 12 months ended June 30, 2024. It had planned to list on the Nasdaq under the symbol BSME. Benjamin Securities was set to be the sole bookrunner on the deal.
