Chinese broker Yuanbao eyes $676.3m valuation in US IPO

GlobalData

Fri, Apr 25, 2025, 6:57 AM 1 min read

Chinese security broker Yuanbao is targeting a valuation of up to $676.3m (4.93bn yuan) successful its US archetypal nationalist offering (IPO), reported Reuters.

The institution intends to rise up to $30m by offering astir 2 cardinal American depositary shares (ADSs) priced betwixt $13 and $15 each.

In conjunction with the IPO, existing main shareholders person indicated involvement successful purchasing up to $17m worthy of ADSs.

Additionally, China-based Qiming Venture Partners has agreed to a concurrent backstage placement of $1m successful Yuanbao shares.

Yuanbao's full-year gross climbed to 3.28bn yuan successful 2024, up from 2.05bn yuan successful the preceding year.

The institution filed for the IPO with the US Securities and Exchange Commission successful September past year, seeking to database ADSs connected the Nasdaq Stock Market nether the ticker awesome 'YB'.

The underwriting for the IPO is being managed by Goldman Sachs (Asia), Citigroup Global Markets and China International Capital Corporation Hong Kong Securities.

Kirkland & Ellis International is advising Yuanbao connected ineligible matters pertaining to US national securities and New York State law, portion the underwriters are being advised by Latham & Watkins.

The institution operates done its subsidiary successful mainland China, Yuanbao Kechuang (Beijing) Technology, and done contractual arrangements with its adaptable involvement entity Yuanbao Shuke (Beijing) Technology and its subsidiaries.

As of 30 June 2024, the institution has much than 4,400 models supporting functions specified arsenic merchandise recommendation, argumentation administration, claims processing and lawsuit service.

Its motor integrates predictive analytics done a web of interconnected models to pass decisions crossed channels, lawsuit groups and merchandise lines, the institution said successful IPO filing.

"Chinese broker Yuanbao eyes $676.3m valuation successful US IPO " was primitively created and published by Life Insurance International, a GlobalData owned brand.