Spark Education, a Chinese K12 after-school tutoring firm backed by Sequoia Capital China, has filed to withdraw its initial public offering (IPO) in the US, joining a list of Chinese firms that have flocked to pull the plugs on planned listings this year.
“In light of the current capital markets condition, the company is considering other alternatives and has determined not to proceed at this time with the offering and sale of the securities,” Spark Education said in its request to the US Securities and Exchange Commission.
