TuanChe Limited Announces Pricing of Initial Public Offering

BEIJING, Nov. 20, 2018 (GLOBE NEWSWIRE) -- TuanChe Limited ("TC" or the “Company”) (NASDAQ: TC), a leading omni-channel automotive marketplace in China, today announced the pricing of its initial public offering of 2,600,000 American depositary shares (“ADSs”) at US$7.80 per ADS. The ADSs have been approved for listing on the Nasdaq Capital Market and are expected to begin trading today under the symbol “TC.” Each ADS represents four Class A ordinary shares of the Company.

The total offering size is US$20.28 million, assuming the underwriters do not exercise their options to purchase up to an additional 390,000 ADSs. The underwriter options are exercisable within 30 days from the date of the final prospectus.

Maxim Group LLC and AMTD Global Markets Limited are acting as the joint book-running managers of this offering.

A registration statement relating to the offering has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering is being made only by means of a prospectus forming a part of the effective registration statement. When available, copies of the final prospectus relating to the offering may be obtained by contacting:

Maxim Group LLC
Attn: Prospectus Group
405 Lexington Avenue,
New York, New York 10174,
United States of America
Email: syndicate@maximgrp.com

AMTD Global Markets Limited
Attn:  Prospectus Group
23/F-25/F Nexxus Building,
41 Connaught Road Central,
Hong Kong
Email: prospectus@amtdgroup.com

About TuanChe Limited
Founded in 2010, TuanChe is a leading omni-channel automotive marketplace in China, ranking third in terms of both volume and GMV of new automobiles sold in 2017, according to the iResearch report. TuanChe offers services to connect automotive consumers with various industry players such as automakers, dealers and other automotive service providers. TuanChe has achieved rapid growth in its business by integrating its online platforms with offline sales events. Through its integrated marketing solutions, TuanChe turns individual and isolated automobile purchase transactions into large-scale collective purchase activities by creating an interactive many-to-many environment. TuanChe also provides virtual dealership services by connecting automakers and franchised dealerships with secondary dealers, which ultimately helps automakers penetrate and expand into lower-tier cities. Furthermore, leveraging its proprietary data analytics and advanced digital marketing system, TuanChe’s demand-side precision search platform helps industry customers increase the efficiency and effectiveness of their advertising placements. For more information, please contact ir.tuanche.com.

Investor Relations Contact

Dana Cheng
Investor Relations
Email: ir@tuanche.com
Tel: +86 10 6398 4292