Zhibao Technology Inc.

Zhibao Technology Inc. (ZBAO) priced its initial public offering on Apr 2, 2024 at $4.00 per share, within its $4.00–$6.00 range, raising $6M, and listed on Nasdaq Capital Market. At the IPO price its market capitalization was about $59.6M. EF Hutton was lead-left underwriter. Ellenoff Grossman & Schole, Ogier, AllBright and Shanghai Riying Law Firm advised the company and Loeb & Loeb advised the underwriters.

Zhibao Technology Inc. is an InsurTech company providing digital insurance brokerage services in China through Zhibao China Group. It uses a 2B2C embedded insurance model built on its own PaaS platform, and launched its digital insurance brokerage platform in 2020.

Status

IPO

Ticker

ZBAO

Exchange

Nasdaq Capital Market

Priced

Apr 2, 2024

IPO price

$4.00

Price range

$4.00–$6.00

Raised

$6M

Market cap at IPO price

$59.6M

First filed

Sep 8, 2023

Underwriters

EF Hutton

Company counsel

Ellenoff Grossman & Schole, Ogier, AllBright and Shanghai Riying Law Firm

Underwriters' counsel

Loeb & Loeb

Sector

Financials

Country / state

China

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.