China-based used-car trading platform Uxin—which is backed by private equity and venture capital fund managers China Renaissance, China Vision Capital, ClearVue Partners, Coatue Management, DCM, Hillhouse Capital Management, KKR, Legend Capital, Tiger Global Management, TPG and Warburg Pincus—has raised US$225 million through its initial public offering on the Nasdaq Stock Market. The company sold 25 million American Depositary Shares (ADS) at a price of US$9 per ADS in the offering while none of the company’s private capital backers exited shares. Concurrent with the offering, Uxin has issued US$175 million in convertible bonds via private placement.