Beijing-based third-party payment platform Lakala Payment Co., Ltd., backed by Chinese Legend Holdings, is planning for listing on ChiNext, the NASDAQ-style bourse of the Shenzhen Stock Exchange, after the company's planned back-door listing via a reverse merger with Shanghai-listed Tibet Tourism failed to materialize.
Lakala plans to issue up to 40.01 million shares in the ChiNext stock market, according to a prospectus posted on the website of China Securities Regulatory Commission. No financial details of the listing have been determined.
If the deal is approved by regulators and can complete speedily, Lakala could be the first third-party payment firm to list in China.
Last October, Lakala said it would split its businesses into Lakala Payment and Koala Financial Service. The entity currently seeking for a listing is the Lakala pa...
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