Used car firm to raise funds via US float

Uxin Ltd, a Chinese used car e-commerce platform, has filed for a $500 million IPO in the United States, according to the company's regulatory filing.

The company plans to list on the Nasdaq stock market under the symbol UXIN. However, no pricing terms were disclosed. Morgan Stanley, Goldman Sachs (Asia), JP Morgan, China International Capital Corp and China Renaissance are the joint underwriters on the deal.

Founded in 2011 by Dai Kun, Uxin offers both business-to-business and business-to-consumer services. Its B2C platform Uxin User Car provides consumers with customized car recommendations, financing, title transfer, delivery, insurance referral, warranty and other related services. Its B2B platform Uxin Auction caters to business buyers, helping them source vehicles, optimizing their turnover and facilitating cross-regional transactions.