China’s PE-backed Cloudary withdraws US IPO
Cloudary, an online literacy platform controlled by Chinese internet company Shanda Interactive Entertainment, has withdrawn its US IPO, which expected to raise $200 million. The move came after the company raised $110 million from Goldman Sachs and Temasek Holdings.
"In light of current capital market conditions, the company has elected not to proceed with the offering of securities contemplated in the Registration Statement at this time," Robert Chiu, chairman of...
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