CEBU, Philippines -- A Chinese social networking app provider backed by Tencent Holdings has filed to withdraw its plans to raise $185 million in a U.S. initial public offering.
Soulgate had sought to offer 13.2 million American Depository Shares at $13 to $15 apiece. It did not provide a reason for the withdrawal, saying its decision was "consistent with the public interest and protection of investors."
