OneMain Financial officially withdraws IPO; acquired by Springleaf

OneMain Financial Holdings, a subprime consumer lending arm of Citigroup with over 1,100 branches, withdrew its plans for an initial public offering on Friday. It originally filed in October 2014 with an estimated deal size of $1.0 billion.

Springleaf acquired OneMain Financial and took the company's name and now trades on the NYSE under the symbol OMF.

The Baltimore, MD-based company was founded in 1912 and booked $2.3 billion in sales for the 12 months ended September 30, 2014. It had planned to list on the NYSE. Citi was set to be the sole bookrunner on the deal.

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