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

Zhibao Technology, a digital insurance brokerage company operating in China, recently completed an initial public offering (IPO) that raised $6 million by selling 1.5 million shares at $4 each. Despite initially planning to sell fewer shares, the company ended up offering 0.3 million more shares than intended, resulting in a smaller IPO float of just 4.7% of its total basic shares outstanding.

Operating under the umbrella of Zhibao China Group, the company specializes in providing digital insurance brokerage services to customers in China using a business-to-business-to-customer (2B2C) digital embedded insurance model. This model involves integrating insurance solutions directly into 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 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 Aiden Johnson

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