DSC Holdings Ltd., a Beijing-based firm that supplies software and related services to China’s used-car industry, has priced its initial public offering at $17 per American depositary share (ADS), according to the company's press release.
The offering comprises 3,000,000 ADSs, which at $17 each would generate approximately $51 million in gross proceeds if underwriters do not exercise the over-allotment option. Each ADS represents 20 Class A ordinary shares of the company. The ADSs are expected to begin trading on the Nasdaq Global Market under the ticker symbol "DSC." The offering is expected to close on June 26, 2026.
Under terms disclosed in the announcement, the underwriters have been granted an option to purchase up to an additional 450,000 ADSs at the IPO price. That option may be exercised within 30 days of the final prospectus. The underwriter group is being led by representatives from Deutsche Bank AG Hong Kong Branch, China International Capital Corporation Hong Kong Securities Limited, and CR Global Markets.
The company cited market-share data from CIC in its release, stating that it has controlled in excess of 90% of the market for operating systems used by Chinese used-car dealers since at least 2021. The press release did not provide further detail in this announcement beyond that claim and the underwriting arrangements.
This transaction structure - ADSs representing multiple ordinary shares, an overallotment option for underwriters, and a Nasdaq listing - is set out clearly in the offering disclosure. The timeline indicates a close on June 26, 2026, subject to customary closing conditions and any exercise of the underwriters’ option to increase the share count.
Summary of the offering:
- 3,000,000 ADSs priced at $17 per ADS.
- Approximate proceeds of $51 million before any overallotment exercise.
- Each ADS equals 20 Class A ordinary shares; ADSs to trade as "DSC" on Nasdaq.
- Underwriters may buy up to 450,000 additional ADSs within 30 days of the final prospectus.
- Underwriter representatives: Deutsche Bank AG Hong Kong Branch, China International Capital Corporation Hong Kong Securities Limited, and CR Global Markets.