Chinese online used car marketplace Cango eyes $300m US IPO

Chinese online used car marketplace Cango eyes $300m US IPO

Motorists drive through a heavy traffic flow near a passing metro train along the main highway EDSA in Makati, Metro Manila, Philippines June 21, 2016. Photo: REUTERS/ERIK DE CASTRO

Cango, an online used car platform based in Shanghai, is looking to raise up to $300 million in an initial public offering (IPO) in the US, joining a list of Chinese firms seeking to tap America’s public markets for fundraising.

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