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China credit card repayment company cancels US IPO

Samoyed withdraws plan 'due to unfavorable market conditions'

Samoyed, which targets its services at millennial credit card holders in China, has withdrawn plans for an IPO in New York.   © Reuters

CEBU, Philippines -- Samoyed Holdings Limited (Samoyed), a financial technology service firm that focuses on China's credit card repayment market, withdrew its planned initial public offering (IPO) in the U.S., according to its latest filing with the US SEC.

"The company has determined not to pursue the sale of the securities covered by the Registration Statement at this time due to unfavorable market conditions," the company said.

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