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Chinese business services provider QMSK Technology files and sets terms for an $8 million US IPO

January 28, 2025
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QMSK Technology, a Chinese provider of auto insurance aftermarket services, filed on Tuesday with the SEC to raise up to $8 million in an initial public offering.

The Qingdao, China-based company plans to raise $8 million by offering 1.5 million shares at a price range of $4 to $6. At the midpoint of the proposed range, QMSK Technology would command a market value of $83 million.

Through its operating entities, QMSK provides comprehensive business solutions to enterprise customers in the insurance industry, mainly auto insurance third-party service providers and insurance companies in China. The company specializes in providing auto insurance aftermarket services, primarily insurance risk assessment services and value-added services, such as vehicle safety inspection services and vehicle maintenance services. For the six months ended September 30, 2024, QMSK provided services to a total of 57 enterprise customers.

QMSK Technology was founded in 2013 and booked $50 million in revenue for the 12 months ended September 30, 2024. It plans to list on the Nasdaq under the symbol QMSK. The company filed confidentially on July 23, 2024. D. Boral Capital is the sole bookrunner on the deal.