• Sat. Apr 20th, 2024

Zhibao Technology Raises $6 Million in IPO for Digital Insurance Brokerage Platform

BySamantha Jones

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

Zhibao Technology, a leading digital insurance brokerage company in China, has recently completed an initial public offering (IPO) that raised $6 million by issuing 1.5 million shares at $4 each, which was the low end of the expected pricing range of $4 to $6 per share. Despite initially planning to offer only 1.2 million shares, the company ended up selling an additional 0.3 million shares, resulting in an IPO float of just 4.7% of the total basic shares outstanding.

Operating under Zhibao China Group, Zhibao Technology specializes in providing digital insurance brokerage services in China using a business-to-business-to-customer (2B2C) digital embedded insurance model. This innovative 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 Jones

As a dedicated content writer at newszxcv.com, I bring a passion for storytelling and a keen eye for detail to every piece I create. With a background in journalism and a love for crafting engaging narratives, I strive to deliver informative and captivating content that resonates with our readers. Whether I'm covering breaking news or delving into in-depth features, my goal is to inform, entertain, and inspire through the power of words. Join me on this journey as we explore the ever-evolving world of news together.

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