New Ruipeng Group, the operator of Chinese pet hospitals, withdrew its plan to go public on the US stock market on Thursday. It had originally submitted its application in January 2023, with a proposed fundraising scale of $100 million.
According to the WiseMoney app, New Ruipeng Pet Medical Group (RPET.US), the operator of Chinese pet hospitals, withdrew its initial public offering (IPO) plan in the United States on Thursday. The company had originally submitted its application in January 2023, with a proposed fundraising scale of $100 million. The stock was scheduled to be listed on the Nasdaq under the ticker symbol RPET.
New Ruipeng Pet Medical Group, headquartered in Shenzhen, China, was established in 1998 and operates nearly 1,900 pet hospitals throughout China. In the 12 months leading up to December 31, 2022, the company generated $792 million in revenue. Morgan Stanley, Credit Suisse, China International Capital Corporation, and UBS Investment Bank will serve as joint bookrunners for the trade.
