Ant Group-backed DSC targets $901 million valuation in US IPO

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June 17, 2026 5:34 PM EDT

The Nasdaq logo is displayed at the Nasdaq Market, in New York City, New York, U.S., April 22, 2026. REUTERS/Jeenah Moon

June 17 (Reuters) - China's DSC ‌Holdings, which ​provides operating ​systems for used car dealers in China, is targeting a valuation of up to $901 million in its U.S. ‌initial public offering, the auto dealer software provider said ⁠on Wednesday.

The Jinhua, Zhejiang-based company, better known as Dasouche, is seeking up to $54 ‌million by offering 3 million ‌American depositary shares priced between $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.

Beijing has also tightened scrutiny around firms ⁠pursuing offshore IPOs in recent years, including U.S. listings.

The China Securities Regulatory Commission signed off ​on DSC's planned New York IPO in April, marking the first nod to a U.S. listing application ​in four months.

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.

DSC, citing data from CIC, said it holds over 90% market share in operating systems for China's used car dealers. Its flagship digitalization ⁠tool, DaFengChe, largely free for used car dealers, spans inventory sourcing and management, ​marketing, sales, and business analysis.

The firm's backers include venture capital firm 5Y Capital, investment firm Primavera Capital and Jack Ma-backed Ant Group.

API (Hong Kong) Investment, which ‌is wholly owned by Ant Group, is set to buy up to $30 million of DSC shares from ‌the offering.

Deutsche Bank, CICC, CR Global Markets, and ICBC International are ⁠the underwriters for the offering. ‌The company will ​list on the Nasdaq under the symbol "DSC."

(Reporting by Arasu Kannagi Basil and Pritam Biswas in Bengaluru; Editing by ‌Anil D'Silva)


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