• Tue. Apr 23rd, 2024

Zhibao Technology’s Initial Public Offering: A Look at the Low-End IPO Float and Digital Insurance Brokerage Firm’s Business Model

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 firm in China, recently completed an initial public offering (IPO) raising $6 million by offering 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 fewer 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, 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 newsqwe.com, I am passionate about crafting engaging and informative articles that captivate our audience. With a background in journalism and a keen eye for detail, I strive to deliver content that is not only well-researched but also adds value to our readers' lives. From breaking news stories to in-depth features, I take pride in my ability to tell compelling stories that resonate with our diverse audience. When I'm not typing away at my keyboard, you can find me exploring new cafes, practicing yoga, or getting lost in a good book. I am thrilled to be a part of the newsqwe.com team and look forward to sharing my love for writing with all of our readers.

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