Huize Holding, which operates an online insurance marketplace in China, announced terms for its IPO on Thursday.
The Shenzhen, China-based company plans to raise $48 million by offering 4.7 million shares at a price range of $9.40 to $11.40. At the midpoint of the proposed range, Huize Holding would command a fully diluted market value of $561 million.
Huize Holding was founded in 2014 and booked $131 million in sales for the 12 months ended September 30, 2019. It plans to list on the Nasdaq under the symbol HUIZ. Citi and CICC are the joint bookrunners on the deal. It is expected to price during the week of February 10, 2020.
