Bike-rental firm Youon submitted today an updated initial public offering prospectus to China’s securities regulator, seeking a listing in the country’s A-share market, local media is reporting (in Chinese).

If successful, it will be the first bike-rental IPO in the country.

Youon Public Bicycle System Co., Ltd. (“常州永安公共自行车系统股份有限公司” in Chinese), the firm behind bike-rental service Youon, is filing for an IPO to raise RMB 598 million for purposes of research and development, business operation and bank loan repayment, according to an online statement issued last Friday by the China Securities Regulatory Commission.

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Sheila Yu

Sheila Yu is a Shanghai-based technology writer. She brings readers the biggest news from Chinese language tech media. Reach her at sheila@technode.com.