Zhibao Technology, a Chinese digital insurance brokerage, prices US IPO at $4 per share, at the lower end.

Zhibao Technology Raises $6 Million with Successful IPO Launch on Nasdaq

Zhibao Technology, a digital insurance brokerage company based in China, recently completed an initial public offering (IPO) that raised $6 million by issuing 1.5 million shares at $4 each. Despite the low end of the expected pricing range of $4 to $6 per share, the company decided to offer 0.3 million more shares than initially planned, resulting in an IPO float of just 4.7% of the total basic shares outstanding.

Operating under Zhibao China Group, the company specializes in providing digital insurance brokerage services in China using a business-to-business-to-customer (2B2C) digital embedded insurance model. This model involves offering a one-stop customized insurance brokerage service where insurance solutions are digitally embedded in the customer engagement matrix of business entities to effectively reach and serve their existing customer base.

Zhibao Technology launched its digital insurance brokerage platform in 2020 and offers a range of services including insurance brokerage services and managing general underwriting services. The company plans to list on the Nasdaq under the symbol ZBAO, with EF Hutton serving as the sole bookrunner for the deal.

Leave a Reply

Aiming to Enhance Quality of Life for Autistic Children with Mozart Sonata, App, and Robot Previous post Revolutionizing Autism Treatment: Researchers Develop Innovative Tools to Enhance Brain Connectivity
Houston-based World Emblem commemorates three decades in operation Next post From New Jersey to the World: Celebrating 30 Years of Custom Patch and Emblem Production by World Emblem