Chinese insurance distributor Heng Guang Holdings (HGIA.US) announced updated IPO terms on Tuesday, planning to issue 6.3 million shares at $4 per share to raise $25 million. Under this arrangement, the company's market capitalization will reach $79 million.

The Chengdu-based company initially filed for an IPO in January 2022, seeking to raise $11 million by issuing 2.8 million shares at $4 per share. After more than a year without updating its prospectus, the company refiled a blank application in March of last year.

Heng Guang distributes various insurance products across two major categories: property and casualty insurance, and life and health insurance. Property and casualty insurance includes motor vehicle insurance, commercial property insurance, accident insurance, construction engineering insurance, and liability insurance. The company also provides distribution services for life and health insurance products.

The company primarily provides sales, distribution, and supporting auxiliary services for products underwritten by over 70 partner insurance companies, and currently operates 45 branch offices across mainland China.

Founded in 2004, Heng Guang Holdings generated revenue of $37 million in the 12 months ended December 31, 2024. The IPO plans to list on the NASDAQ stock exchange under the ticker symbol HGIA. D.Boral Capital will serve as the sole bookrunner for this offering.