China: Used-car trading platform Uxin eyes up to $500m in US IPO

Traffic travels along the Second Ring Road in Beijing, China, on Wednesday, Dec. 2, 2015. Photographer: Qilai Shen/Bloomberg

China’s used car trading platform Uxin Limited has filed for an initial public offering (IPO) in the US, targeting to raise up to $500 million to boost service capabilities and fund potential investments and acquisitions.

In a filing with the US Securities and Exchange Commission (SEC), the Beijing-based company, which counts Chinese search engine giant Baidu as one of its major shareholders, said it plans to list on the Nasdaq under the symbol UXIN, which means quality and trust in Chinese.

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