HeZhong International Holding, which operates a peer-to-peer lending marketplace in China, withdrew its plans for an initial public offering on Wednesday, citing its inability to restructure and improve its business prospects for a successful IPO. It had filed to raise $5 million by offering 1.3 million shares at $4.
The Shenzhen, China-based company was founded in 2018 and booked $29 million in revenue for the 12 months ended December 31, 2018. It had planned to list on the Nasdaq under the symbol HZ.
