Fifteen shareholders of bicycle-rental startup Hello TransTech have withdrawn from the company, according to Chinese business research platform Tianyancha.com.
The Ant Finance-backed company’s registered capital was reduced by nearly RMB 992 million (around $147.6 million) to RMB 43 million, according to the platform. The changes were disclosed on Wednesday.
Hello TransTech did not respond to TechNode’s request for comment.
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