Hong Kong game developer Shield Technology (PYRO.US) withdraws US IPO application.

Mobile and online game developer Pyro AI, headquartered in Hong Kong, withdrew its IPO plan on Tuesday. The company initially filed for a listing on the US stock market in July 2024, planning to issue 2.3 million shares at a price range of $4 to $5 per share, aiming to raise $10 million. The company last updated its prospectus in September 2024. Founded in 2020, the company reported revenue of $6 million for the 12 months ended December 31, 2023. Pyro AI had originally planned to list on Nasdaq under the ticker symbol PYRO.