Tiger Brokers

BUZZ-Chinese insurance broker Yuanbao set to open higher in Nasdaq debut

Reuters
Apr 30, 2025
BUZZ-Chinese insurance broker Yuanbao set to open higher in Nasdaq debut

** Shares of Chinese insurance broker Yuanbao YB.O set to open above offer price in their Nasdaq debut

** Stock recently indicated to open at $23.25 vs $15 IPO price

** Beijing-based YB had marketed 2 million American depositary shares at a price range of $13 to $15 each

** Goldman Sachs, Citigroup and CICC were the lead underwriters for the offering

** Certain existing YB shareholders had indicated their interest in buying up to $17 million of ADSs offered in the IPO

** Founded in 2019, YB booked $450 million in revenue in 2024, a 60% jump from a year earlier

** CEO Rui Fang will continue to control more than 90% of YB's voting power post-IPO

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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