• Sat. Apr 20th, 2024

Zhibao Technology’s Successful IPO: Bringing Digital Insurance Brokerage to the Chinese Market

BySamantha Nguyen

Apr 2, 2024
Zhibao Technology, a Chinese digital insurance brokerage, prices US IPO at $4 per share, at the lower end.

Zhibao Technology, a digital insurance brokerage in China, recently completed an initial public offering (IPO) raising $6 million by offering 1.5 million shares at $4 each. Despite the low end of the expected pricing range of $4 to $6 per share, the company ended up offering 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 has plans to list on the Nasdaq under the symbol ZBAO, with EF Hutton serving as the sole bookrunner for the deal.

By Samantha Nguyen

As a content writer at newsskio.com, I weave words to craft compelling narratives that captivate readers and bring stories to life. With a keen eye for detail and a passion for storytelling, I strive to create engaging and informative content that resonates with our audience. Whether I'm delving into the latest news trends or exploring unique angles on various topics, my goal is to deliver quality content that informs, entertains, and inspires. Join me on this journey as we uncover the news stories that matter most.

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