Chinese medical device company Besman (BSME.US) has withdrawn its $20 million US stock IPO plan.

Chinese medical equipment company Besman Precision Instruments (BSME.US) has withdrawn its IPO plan. The company had filed for a public listing in February 2023, planning to issue 4 to 6 million shares at a price range of $4 to $6 per share, with the intention to raise $20 million. Based on the midpoint of the proposed price range, the company's market value would have reached $95 million. This company, headquartered in Shenzhen, China, was founded in 2001. As of June 30, 2024, the company's revenue over the past 12 months was $3 million. The company had planned to list on Nasdaq under the stock symbol "BSME," with Benjamin Securities serving as the exclusive bookrunner for the transaction.