BUZZ-China's DSC Holdings falls in Nasdaq debut after $51 million US IPO

DSC Holdings Ltd. Sponsored ADR

DSC Holdings Ltd. Sponsored ADR

DSC

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** China's DSC Holdings DSC.O, which provides operating systems for used car dealers, opens below offer price in Nasdaq debut after $51 million IPO

** Stock opened at $16 apiece vs $17 IPO price

** Jinhua, Zhejiang-based DSC sold 3 million American depositary shares within marketed range of $16 and $18 apiece

** Chinese IPOs in New York have been slow ​to come over the past year after U.S. President ⁠Donald Trump's tariff turmoil drove up geopolitical tensions between Washington ​and Beijing

** Founded in 2012 by Junhong Yao, DSC ​provides digitalization tools and transaction services to used car dealers in China, the ‌world's ⁠largest automotive market

** API (Hong Kong) Investment, ​which is ⁠wholly owned by Ant Group, had indicated interest in buying up to $30 million of DSC shares from offering


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