Huize Holding Limited (HUIZ) Trading Debut on NASDAQ Global Market

2020-02-13 13:20 853

NEW YORK, Feb. 13, 2020 /PRNewswire/ -- A leading independent online insurance product and service platform in China, Huize Holding Limited ("Huize" or the "Company", NASDAQ: HUIZ), successfully listed and commenced trading on Nasdaq Global Market under the symbol "HUIZ" on Feb. 12, 2020, with a price of $10.50 per ADS. The Company offers 5,250,000 American Depositary Shares ("ADSs"), each representing 20 Class A common shares of the Company. The Company has raised approximately $55 million from the IPO.

Citigroup Global Markets Inc., China International Capital Corporation Hong Kong Securities Limited, Tiger Brokers (NZ) Limited and Valuable Capital Limited are acting as underwriters for the offering.

Mr. Cunjun Ma, Chairman of the Board of Directors and Chief Executive Officer of Huize Holding Limited, said, "We are very grateful for the support and attention from all the investors. Listing in the U.S. not only allows the Company to enter the international trade market but also provides a solid foundation for the long-term development of the Company. In the future, the Company will continue to focus on consolidating our leading position in the online insurance sector in China, and further strengthen the Company's position in the industry to create the greatest value for the stakeholders."

Huize Holding Limited is a leading independent online insurance product and service platform in China. Targeting the younger generation, Huize is dedicated to serving its insurance clients for their life-long insurance needs. Leveraging its online platform, Huize offers a wide variety of insurance products with a focus on long-term life and health insurance products, which are particularly suitable for its clients. Huize provides insurance clients with high-quality client services, including suitable product recommendations, consulting service, intelligent underwriting and assistance in claim application and settlement, which significantly improve transaction experience. Huize cooperates with the insurance companies that underwrite insurance products offered on its platform, and helps the insurance companies increase insurance sales, improve efficiency and unlock their profit potential. According to the Oliver Wyman Report, Huize was the largest independent online long-term life and health insurance product and service platform in China as measured by GWP facilitated in 2018.

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Source: Huize Holding Limited