WASHINGTON (dpa-AFX) - Zhibao Technology Inc., a InsurTech company primarily engaging in providing digital insurance brokerage services through its operating entities in China, said that it has priced its initial public offering of 1.50 million Class A ordinary shares at a price of $4.00 per share to the public for a total of $6 million of gross proceeds to the company, before deducting underwriting discounts and offering expenses.
The company has granted a 45-day option to the underwriters to purchase up to 225,000 additional Class A ordinary shares solely to cover over-allotments, if any.
The Class A ordinary shares have been approved for listing on The Nasdaq Capital Market and are expected to begin trading on April 2, 2024, under the symbol 'ZBAO.'
The offering is expected to close on April 3, 2024.
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